Ag Bio Tech (ABT) was organized on January 1 by four friends. Each company and, in turn, was issued 13,000 shares of common stock. To date, they are the only During the first month (January), the company had the following five events: invested $16,250 in the stockholders. a. Collected a total of $65,000 from the organizers and, in turn, issued the shares of stock b. Purchased a building for $79,000, equipment for $21,500, and three acres of land for $29,400: paid $36,250 in cash and signed a note for the balance, which is due to be paid in 15 years. c. One r reported to the company that 1,100 shares of his ABT stock had been sold and ed to er for $11,000 cash d. Purchased supplies for $5,.250 cash. e. Sold one acre of land for $9,800 cash to another company Required 2. During the first month, the records of the company were inadequate. You were asked to prepare a ABT, complete the spreadsheet that follows. (Enter any decreases to account balances with a minus sign.) Liabilities Stockholders' Equity Notes Common Retained Cash Supplies Land Building Equipment Beg 0 0 65,000 65,000 21,500 93,650 (36,250 29,400 79.000 21,500 29,400 79,000