3 Part 2 of 2 16.66 points eBook Hint Print References Required information [The following information applies to the questions displayed below.] Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year: a. Received $80,000 cash from the six investors; each investor was issued 9,400 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $28,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement with a cleaning service to pay $220 per week for cleaning the corporate offices next year. d. Received an additional contribution from investors who provided $4,000 in cash and land valued at $25,000 in exchange for 2,000 shares of stock in the company. e. Lent $3,500 to one of the investors, who signed a note due in six months. f. Bennett Griffin borrowed $8,000 for personal use from a local bank, signing a one-year note. 2. Using the balances in the T-accounts, fill in the following amounts for the accounting equation: Assets = Liabilities + Stockholders' Equity