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Chapter 1 HW 2 25 points Skopped etlook H P Dakota Company experienced the following events during Year 2. 1. Acquired $30,000 cash from the issue of common stock. 2. Paid $12.000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $20,000 cash 5. Paid $1,000 cash for utilities expense. 6. Paid $15,000 cash for other operating expenses. 7. Paid a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $12.700. Required a. The January 1, Year 2. general ledger account balances are shown in the following accountingequation. Record the eight events in the appropriate general ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column Provide the appropriate titles for these accounts in the last column of the table. The first event is shown as an example. b-1. Prepare an Income statement for the Year 2 accounting period. b-2. Prepare a statement of changes in equity for the Year 2 accounting period. b-3. Prepare a year-end balance sheet for the Year 2 accounting period b-4. Prepare a statement of cash flows for the Year 2 accounting period. e-1. Determine the percentage of assets that were provided by retained earnings. c-2. Can you determine the cash in retained earnings? Complete this question by entering your answers in the tabs below. By A Saved R 02 Reg 113 Ro May Cl ims.mheducation.com%252Fmghmiddleware%252Fmheproducts Reg (7 Help 2 2.5 points Skipped eBook Pent References Complete this question by entering your answers in the tabs below. Req A Reg B3 Prepare a year-end balance sheet for the Year 2 accounting period. DAKOTA COMPANY Balance Sheet As of December 31, Year 2 Assets Total assets Liabilities Req B1 Total liabtes Stockholders' Equity Req 52 Total stockholders equity Total habbies and stockhoidon equity Reg 02 $ S Reg D4 0 Req C1 Reg 04 Reg C2 2 2:5 points Skipped eBook Hant Print References Prepare a statement of cash flows for the Year 2 accounting period. (Cash outflows should be indicated with a minus sign.) DAKOTA COMPANY Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities Net cash flow from operating activities Cash Bows from investing activities Net cash flow from investing activities Cash flows from financing activities Net cash flow from financing activities Ending cash balance