Ramirez Company experienced the following events during Year 1:Acquired $50,000 cash by issuing common stockBorrowed $25,000 cash from a creditorProvided services to customers for $38,000 cashPaid $32,000 cash for operating expensesPaid a cash dividend of $2,500 to stockholdersPurchased land with cash, $30,000Required:Show how each of these events affects the accounting equation. Enter NA for items not affected. The first event is done as an example.Calculate the total amount of assets, liabilities, common stock, and retained earnings at the end of the period.

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The Answer of Ramirez Company experienced the following events during Year 1:Acquired $50,000 cash by issuing common stockBorrowed $25,000 cash from a creditorProvided services to customers for $38,000 cashPaid $32,000 cash for operating expensesPaid a cash dividend of $2,500 to stockholdersPurchased land with cash, $30,000Required:Show how each of these events affects the accounting equation. Enter NA for items not affected. The first event is done as an example.Calculate the total amount of assets, liabilities, common stock, and retained earnings at the end of the period.

Ramirez Company Experienced the Following Events During Year 1:Acquired $50,000