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PART – a)

Cash inflow from financing activity = Common stock issued + Notes payable issued – Dividend paid

= ($7,000 – $2,300) + $2,600 – $700

= $6,600

PART – b)

The company has purchased land that causes outflow of cash from the investing activity as investing activity records purchase of fixed asset as investment outflow. Thus, investment outflow is caused by purchase of land of $14,400.

PART – C-1)

The income statement is prepared as follows:

PART – C-2)

In the statement of changes in equity, retained earnings balance changes which is shown in the statement as follows:

PART – C-3)

The balance sheet is prepared as follows:

PART – C-4)

The statement of cash flows is prepared as follows: