The following table shows the transactions experienced by Walter Enterprises during Year 7. The table contains missing data which are labeled with alphabetic characters (a) through (i). Assume all transactions shown in the accounting equation are cash transactions.

Required

a. Determine the correct amount represented by each character (a) through (f).

b. Is there sufficient cash available to repay the debt on January 1, Year 8?

c. Based on the information in the table, what is the maximum cash dividend Walter could pay on  January 1, Year 8?

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Event No. Beg. Bal. 1. 2. 3. 4. 5. 6. End Bal. Cash (a) (d) (e) (30,000) (18,000) (65,000) (5,000) 90,000 Assets + + + + + + + + + Land 70,000 (h) (1) = = = = = = = = Liabilities Notes Pay. (b) (5,000) 35,000 Com. Stk. + + + + + + + + + 130,000 (C) 50,000 Stockholders' Equity + Ret. Earn. + + + + + + + + 20,000 (f) (30,000) (g) (1) Account Revenue Expenses Dividend