Alex's Interiors, Inc., is an intemational manufacturer and retailer of home furnishings. The following is from Alex's balance sheet as of September 30, 2000 (dolars are in milions) Cash Accounts Receivable Inventories Other Current Assels Property, Plant, and Equipment Other Assets $110.00 Accounts Payable 27.00 Wages and Other Expenses Payable 233 00 Notes Payable, (long term) 41.00 Other Long-Term Liabilities 415.00 Contributed Capital 129.00 Retained Eamings 41 00 156.00 248.00 59.00 416.00 35.00 Assume that the following events occumed in the quarter ended December 31 (amounts provided are in whole dollars) a Paid $9,500,000 cash for an additional other asset b. Issued additional shares for $9,500,000 in cash Purchased property, plant, and equipment: paid $9,500,000 in cash and signed a note to pay the remaining $24,000,000 in two years d. Sold, at cost, other assets for $1,750,000 cash e. Conducted negotiations to purchase a sawmill which is expected to cost $51,000.000 Required: 1. Analyze transactions (a) through (e) to determine their effects on the accounting equation (Enter any decreases to account balances with a minus sign Enter your answers in millions rounded to two decimal places.) Transaction b c d Assets Q Liabilities Shareholders' Equity ENG ESSFU 2023-01-19 Journal entry worksheet < 2 4 5 Paid $9,500,000 cash for an additional "other asset". Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 2 3 4 5 Issued additional shares for $9,500,000 in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 Purchased property, plant, and equipment; paid $9,500,000 in cash and signed a note to pay the remaining $24,000,000 in two years. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 Sold, at cost, other assets for $1,750,000 cash. Note: Enter debits before credits. Transaction d General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 2 3 4 5 Conducted negotiations to purchase a sawmill, which is expected to cost $51,000,000 Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 3. Summarize the journal entry effects from requirement 2 using T-accounts. Use the September 2020 ending balances a your answers in millions, rounded to two decimal places.) Beg. bal. Cash Accounts Receivable Beg. bal. End. bal. End. bal. Inventories Property, Plant, and Equipment Beg bal Beg. bal. End. bal. End. bal. Other Assets Accounts Payable Beg. bal. Beg. bal. End. bal. End. bal. Wages and Other Expenses Payable Notes Payable, (long-term) Beg. bal. Beg bal C Wages and Other Expenses Payable Beg bal Notes Payable, (long-tarra) Beg bal End. bal End. bal. Other Long term Liabilities Contributed Capital Beg bal Beg bal End, bal End. bal. Retained Earnings Other Current Assets Beg bal Beg bal End bal End bal Assets Current assets Balance Sheet At December 31, 2020 (in millions of dollars) Total current assets Total assets Liabilities Current liabilities 0.00 $ 0.00 Total current liabilities 0.00 Total current liabilities. 0.00 Total liabilities Shareholders' equity Total shareholders' equity Total liabilities and shareholders equity 0.00 0.00 $ 0.00 C 6. As of December 31, 2020, has the financing for Alex's Interiors' investment in assets primarily come from liabilities or from shareholders equity? OLiabilities OShareholders' equity