1 Skipped eBook Print References P2-3 (Algo) Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance, and Evaluating the Current Ratio LO2-2, 2-4, 2-5 (GL) Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Operating lease right-of-use assets Intangible assets $22,000 Accounts payable 2,500 Accrued liabilities payable 4,900 Notes payable (current) 27,000 Notes payable (noncurrent) 2,000 Long-term lease liabilities 52,000 Common stock $ 22,000 3,300 7,200 45,000 60.000 9,400 96,000 Additional paid-in capital 140,000 Retained earnings 4,200 84,600 119,100 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $8,200 cash. b. Lent $6,000 to a supplier, who signed a two-year note. c. Leased equipment that cost $18,000; paid $4,100 cash and signed a five-year right-of-use lease for the balance. d. Hired a new president at the end of the year. The contract was for $83,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. e. Issued an additional 2,200 shares of $0.50 par value common stock for $19,000 cash. f. Borrowed $20,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $1,900 cash. h. Built an addition to the factory for $24,000; paid $7,900 in cash and signed a three-year note for the balance. i. Returned defective equipment to the manufacturer, receiving a cash refund of $1,700. Requirement General Journal General Ledger Trial Balance Balance Sheet Analysis Use the drop-downs below to select the accounts that should be properly included on the balance sheet. JAGUAR PLASTICS COMPANY Balance Sheet December 31 Assets Current assets: Non-current assets: Total assets Current liabilities: Total liabilities 0 0 Liabilities Stockholders' Equity Total liabilities and stockholders' equity