Video and then answer the questions included 1. Which of the following transactions affects the income statement? a. Paid expenses of $2,900 b. Paid $1,500 as dividends to stockholders c. Purchased land for $12,000 cash d. Borrowed $10,000 from a bank Select 2. Design and Hues received client fees of $5,500. What is the effect of this transaction under the Statement of Cash Flows column? a. Cash from financing activities increases by $5,500 b. Cash from investing activities increases by $5,500. c. Cash from operating activities increases by $5,500. d. Cash from servicing activities increases by $5,500. Select 3. Design and Hues borrowed $10,000 from First National Bank to finance operations. What is the effect of this transaction on the Balance Sheet accounts? a. Cash account and Notes Payable account decrease by $10,000. b. Cash account and Notes Payable account increase by $10,000. c. Cash account increases while Notes Payable account decreases by $10,000. d. Cash account decreases while Notes Payable account increases by $10,000. Select 4. Which of the following transactions changes only the mix of assets and liabilities and does not affect stockholder's equity? a. Borrowed $10,000 from First National Bank b. Received $5,500 as client fees c. Paid dividends to stockholders, $1,500 d. Paid interest of $450 Select w