Exercise $1-15$A $($Algo$)$ Preparing an income statement and a balance sheet LO $1-7$okintencesMika Company was started on January $1,$ Year $1.$ During Year $1,$ the company experienced the following three accounting events:$1.$ earned cash revenues of $$32,2002.$ paid cash expenses of $$14,4003.$ paid a $$2,700$ cash dividend to its stockholdersThese were the only events that affected the company during Year $1.$Requireda. Record the effects of each accounting event under the appropriate general ledger account headings.b$.$ Prepare an income statement, statement of changes in stockholders' equity, and a balance sheet dated December $31,$ Year $1,$ for Mika Company.