Reynolds, Inc. was incorporated on January 1, 2010. The following events apply to the company’s first year of operation.

1. Issued 2,000 shares of $10 par value common stock at a market price of $25 per share.

2. Earned $35,000 cash revenue.

3. Incurred $25,000 of cash expenses.

4. Declared a $3,000 cash dividend.

5. Paid the cash dividend declared in Event No. 4.

6. Distributed a 5 percent stock dividend when the market price of the stock was $28 per share.

7. Distributed a two-for-one stock split.

Required:

Record the events in the accounting equation.

8. problems and applications q8there are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: consumers' willingness to payyvette: $35cho: $15sean: $45bob: $25firms' costsfirm a: $40firm b: $20firm c: $10firm d: $30each firm has the capacity to produce only one haircut. for should be given. which businesses should cut hair? check all that apply. firm afirm bfirm cfirm dwhich consumers should have their hair cut? check all that apply. bobchoseanyvettethe maximum possible total surplus is