Exercise 1-15A Preparing an income statement and a balance sheet LO 1-7 Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1) earned cash revenues of $28,900, (2) paid cash expenses of $13,300, and (3) paid a $1,600 cash dividend to its stockholders. These were the only events that affected the company during Year 1. Required a. 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 Majka Company Complete this question by entering your answers in the tabs below. Required A Required B Inc Stmt Required B Stmt of Changes Required B Bal Sheet Record the effects of each accounting event under the appropriate general ledger account headings. (Enter any decreases to account balances with a minus sign.) MAJKA COMPANY Accounting Equation for Year1 Liabilities Assets Event Stockholders' Equity Common Retained Stock Earnings Cash 1. 2. Ending balance Exam 1(Ch 1-3) TB MC Qu. 02-26 Revenue on account amounted to... Revenue on account amounted to $4,200, Cash collections of accounts receivable amounted to $2,450. Expenses for the period were $2,200. The company paid dividends of $500. What was net income for the period? points