I got the first part I want to make sure that b is correct a

I got the first part. I want to make sure that b is correct. and need the rest answered also thanks

Davidson Company was started on January 1, 2014, and experienced the following events during its first year of operation: 1. Acquired $52,000 cash from the issue of common stock 2. Borrowed $20,000 cash from National Bank 3. Earned cash revenues of $42,000 for performing services. 4. Paid cash expenses of $23,000. 5. Paid a $6,000 cash dividend to the stockholders. 6. Acquired an additional $10,000 cash from the issue of common stock 7. Paid $10,000 cash to reduce the principal balance of the bank note 8. Paid $45,000 cash to purchase land. 9. Determined that the market value of the land is $55,000. Required a. Record the preceding transactions in the horizontal statements model. Also, in the Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA) net change in cash (NC) and NA to indicate the element is not affected by the event. The first event is shown as an example. (Enter any decreases to account balances and cash outflows with a minus sign.) DAVIDSON COMPANY Horizontal Statements Model for 2014 Balance Sheet Income Statement Event Statement of Cash Flow Assets = Liabilities + Stockholders\' Equity Common Retained Revenue-Expense Notes Cash + Land 52,000 20,000 42,000 Payablec Earnings 52,000 52,000 FA 20,000 42,000 20,000+ + 4200of 42,000 (23.000 4. (23,000) + (23,000) (23,000) (23,000) (6,000)|+ (6.000 (6,000) 5 0,000 0,000 FA (10,000) 45,000) IA 10,000+ (10,000) 7.(10,000) 8. (45,000)| 45,000|= Total | 40,000 | + | 45,000-10,000 | +| 62,000 | + | 13,000 42.000 (23,000) 0 40,000

Solution

c. Source of assets Event amount Issue of stock 52,000 Cash from loan 20,000 Cash from revenue 42,000 Issue of stock 10,000 total source of assets 124,000 d-1 Net income (42000-23000)= 19000 d-2 No e. Net cash flow from operating activities 19,000 Net cash flow from investing activities -45,000 Net cash flow from financing activities 66000 in the horizontal model please make following changes in net income section show revenue of $42000 in net income section show expense of $(23000) so in total of net income    show             $19,000 2) 20,000 cash from national bank show as FA and not NC 3) 42,000 revenue is OA activity 4)23,000 expense is OA activity 7)10000 paid is FA activity