Question 1 1 pts Davidson Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $52,000 cash from the issue of common stock. 2. Borrowed $20,000 cash from National Bank. 3. Earned cash revenues of $42,000 for performing services. 4. Paid cash expenses of $23,000. 5. Paid a $6,000 cash dividend to the stockholders. 6. Acquired an additional $10,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $45,000 cash to purchase land. 9. Determined that the market value of the land is $55,000. Davidson Company borrowed $20,000 cash from National Bank. How did this transaction affect Davidson's Balance Sheet? 40000 Question 6 1 pts Determine the Net Income that Davidson would report on the Year 1 Income Statement. Question 7 1 pts Determine the net cash flows from financing activities that Davidson would report on the Year 1 Statement of Cash Flows. Question 8 1 pts 1. What is the balance in the Retained Earnings account immediately after Event 3 is recorded? Question 5 0 / 1 pts Determine the amount of total assets that Davidson would report on December 31, Year 1. 40000