need answer to only Req C and Req E

Mark's Consulting experienced the following transactions for Year 1. its first year of operations, and Year 2. Assume that all transactions Involve the receipt of payment of cash Transactions for Year 1 1. Acquired $60,000 by issuing common stock 2. Received $110,000 cash for providing services to customers. 3. Borrowed $17,000 cash from creditors. 4. Paid expenses amounting to $58.000 5. Purchased land for $30,000 cash Transactions for Year 2 Beginning account balances for Year 2 are: Cash Land Hotes payable Common stock Retained warning 599,000 30,000 17,000 60.000 52.000 1. Acquired an additional $22,000 from the issue of common stock 2. Received $132.000 for providing services 3. Paid $12,000 to creditors to reduce loan 4. Paid expenses amounting to $73.000 5. Paid a $14.000 dividend to the stockholders 6. Determined that the market value of the land is $40,000 Required a. Record the effects of each accounting event under the appropriate headings for each year Record the amounts of revenue expense, and dividends in the Retained Earnings column. Provide appropriate titles for these accounts in the last column of the table. b-1. Prepare an income statement for each year accounting period. b-2. Prepare a statement of changes in stockholders' equity for each year accounting period b-3. Prepare a year-end balance sheet for each year accounting period b 4. Prepare a statement of cash flows for each year accounting period c. Determine the amount of cash that is in the retained earnings account at the end of Year 1 and Year 2 e. Determine the balance in the Retained Earnings account immediately after Event 2 In Year 1 is recorded and after Event 2 in Year 2 is recorded Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Red A Reg 1 Reg 02 Red B Reg 14 Regc Ret Determine the balance in the Retained Earnings account immediately after Event 2 in Year 1 is recorded and after Event 2 in Year 2 is recorded Year! 5 (52.000) $ Year 2 52.000 Retained cornings Roqc compiece this question by entering your answers in the tas bow. Rega Reg 1 Reg B2 RB3 Reg 14 Reqc Req Prepare a statement of cash flows for ach year accounting period. (Cash outflows should be indicated with a minus sign) MARIS CONSULTING SERVICES statement of Cash Flows For the Year Ended December 31. Year 1 Cashfws from operating activities Cash receipts from customers $ 110,000 Cash payments for women (58.000) $ 52.000 Nutcash flow from operating activities Cashflows from investing activities Cash payment for land $30,000 (30,000) Net cash flow from investing at Cash flows from financing activities Cartom stocking Cash rece from borrowed funds Oo $ 60,000 17.000 77.000 90.000 Not cash flow from financing activities Nincrace in Plus Beginning cash balance olo Pue Seos Need ---- Ending cash balance Return to $ 99,000 MARKS CONSULTING SERVICES Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities Cash receipts from customers $ 132,000 Cash payments for expenses 73,000) $ 59,000 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Cash receipts from stock issu Cash payment for dividends Cash payment on debt $ 22.000 (14,000) (12,000) Net cash flow from financing activities Net increase in cash Plus: Beginning cash balance Ending cash balance . (4.000) 55,000 99,000 $ 154.000 ol Le question by entering your answers in the tabs Delow. RA Reg 1 Req B2 Reg B3 Red B4 Reqc Reg E Prepare a year-end balance sheet for each year accounting period MARK'S CONSULTING SERVICES Balance Sheet As of December 31, Year 1 Assets Cash Land olo $ 99,000 30,000 $120.000 Total assets Liabilities Notes payable $ 17,000 $ 17.000 Totalis Stockholders' Equity Canon stock Retained earnings lo 60,000 52.000 Total stockholders' equity Total abilities and stockholders' equity 112,000 $ 120.000 Lotion Total abilities and stockholders' equity Return to Quest $ 129,000 MARK'S CONSULTING SERVICES Balance Sheet As of December 31, Year 2 Assets Cash Land $ 154,000 30,000 $ 184,000 Total assets Liabilities Notes payable $5,000 $ 5,000 Total liabilities Stockholders' Equity Common stock Retained earings olo 82,000 97,000 Total stockholders' equity Total liabilities and stockholders' equity 179,000 $ 184,000 Return to question Reg A Roq B1 Reg B2 Reg 33 Reg 14 Reg C ReqE Prepare a statement of changes in stockholders' equity for each year accounting period. (Amounts to be deducted should be indicated with minus sign.) Indeed Raum . pdf (41 MARK'S CONSULTING SERVICES Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock Plus: Common stock issued 60,000 Ending common stock $ 60,000 Beginning retained earnings Plus Net income 52,000 Ending retained earnings 52.000 Total stockholders equity $ 112,000 His 6387403163229 3401812.JPG MKTO MARK'S CONSULTING SERVICES Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 2 Beginning common stock $ 60,000 Plus: Common stock issued 22,000 MARK'S CONSULTING SERVICES Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 2 Beginning common stock $ 60,000 Plus: Common stock issued 22,000 Ending common stock $ 82,000 Beginning retained earnings $ 52,000 Plus: Net income 59,000 Less: Dividends (14,000) Ending retained earnings 97,000 Total stockholders' equity $ 179,000 me this question by entering your answers in the tabs below. Reg A Req B1 Reg B2 Req B3 Req B4 Reqc Reg E Prepare an income statement for each year accounting period. MARK'S CONSULTING SERVICES Income Statement For the Year Ended December 31, Year 1 Service revenue $ 110,000 Expenses (58,000) Net income $ 52,000 MARK'S CONSULTING SERVICES Income Statement For the Year Ended December 31. Year 2 Service revenue $ 132,000 Expenses (73,000) Net income $ 59,000 RIGA Reg: Req B2 Req B3 Reg 4 Reac RegE Record the effects of each accounting event under the appropriate headings for each year. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide appropriate titles for these accounts in the last column of the table. (Enter any decreases to account balances with a minus sign. If there is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells will require input.) Show less Assets Cash Land MARKS CONSULTING SERVICES Accounting Equation for Yeart Liabilities Stockholders Equity Account Tities for Notes Common Retained Hatained Earnings Payable Stock Earning - 30,000 110.000 Revene 17.000 (58,000 Opening expense 1 2 3 00.000 110,000 17,000 (58.000) (30,000) 99.000 - 5. Total 30.000 30,000 17.000 60.000 52.000 MARK'S CONSULTING SERVICES Accounting Equation for Year 2 Linhilber Stockholders' Equity Account