10 1 Part 2 of 4 points Required information [The following information applies to the questions displayed below.] Cougar Plastics Company has been operating for three years. At December 31, 2014, the accounting records reflected the following: 18,000 eBook Cash $25,000 Accounts payable Investments (short- term) 3,300 Accrued liabilities payable 3,600 Print Accounts receivable 3,600 Notes payable (short- 7,200 term) Inventory 25,000 Notes payable (long- term) 48,000 Reference Notes receivable (long- 1,700 Common stock 9,600 term) Equipment 48,000 Factory building Intangibles Additional paid-in capital 94,000 Retained earnings 86,400 31,200 3,400 During the year 2015, the company had the following summarized activities: a. Purchased short-term investments for $8,400 cash. b. Lent $5,200 to a supplier who signed a two-year note. c. Purchased equipment that cost $25,000; paid $5,500 cash and signed a one-year note for the balance. d. Hired a new president at the end of the year. The contract was for $85,000 e. per year plus options to purchase company stock at a set price based on company performance. Issued an additional 2,000 shares of $0.50 par value common stock for $16,000 cash. 1. Borrowed $10,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $1,600 cash. h. Built an addition to the factory for $29,000; paid $7,200 in cash and signed a three-year note for the balance. L. Returned defective equipment to the manufacturer, receiving a cash refund of $1,300. 4. Prepare a trial balance at December 31, 2015. COUGAR PLASTICS COMPANY Trial Balance At December 31, 2015 Account Titles Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles Accounts payable Accrued liabilities payable Notes payable (short-term) Notes payable (long-term) Common stock Additional paid-in capital Retained earnings Totals Debit Credit