ast Hill Home Healthcare Services was organized five years ago by four friends who each invested $12,000 in the company and, in irn, were issued in total 8,800 shares of $1.00 par value common stock. To date, they are the only stockholders. At the end of last pot, the accounting records reflected total assets of $729,000 ( $56,000 cash, $514,000 land; $53,000 equipment; and $106,000 uildings), total liabilities of $212,000 (short-term notes payable $106,000 and long-term notes payabie $106,000 ), and stockhoiders quity of $517,000 ( $22,000 common stock; $90,000 additional paid-in capital; and $405,000 retained earnings). During the current aar, the following summarized events occurred: a. Sold 9,700 additional shares of stock to the original organizers for a total or $97,000 cash. b. Purchased a building for $59,000, equipment for $19,000, and four acres of land for $24,000; paid $15,000 in cash and signed a note for the balance (due in 15 years). (Hint Five different accounts are affected) c. Sold one acre of land acquired in (b) for $6,000 cash to another company. d. Purchased short-term investments for $15,500 cash. e. One stockholder reported to the company that 350 shares of his East Hill stock had been sold and transferred to another stockholder for $3,300 cash. f. Lent one of the shareholders $5,900 for moving costs and recolved a signod, six-minth note from the shareholder. c. Borrowed $11,000 from a local bank, signed a note due in six months. equired: 1. Was East Hill Home Healthcare Services organlzed as a sole proprietorship, a portnership, or a corporation? 2. During the current year, the records of the company were inodequate. You were osked to prepare the summary of transactions shown above. To develop a quick assessment of their economic effects on East Hill Home Healthcare Services, complete the tabutation that followh. The first event is used as an example. 4. Based only on the completed tabulation, provide the following amounts 5. Compute the current ratio for the current year. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. During the curtent yeas, the records of the company were inadecuate. You were asked to prepare the summary of transactions shown abeve, To elvelop a guick assetsment Healthcare Service, complete the tabulation that follows. The frst event is used as an example. Note: Enter Cocreases to accounts with a minus siph. ast Hill Home Healthcare Services was organized five years ago by four friends who each invested $12,000 in the company and, in irn, were issued in total 8,800 shares of $1.00 par value common stock. To date, they are the only stockholders. At the end of last pot, the accounting records reflected total assets of $729,000 ( $56,000 cash, $514,000 land; $53,000 equipment; and $106,000 uildings), total liabilities of $212,000 (short-term notes payable $106,000 and long-term notes payabie $106,000 ), and stockhoiders quity of $517,000 ( $22,000 common stock; $90,000 additional paid-in capital; and $405,000 retained earnings). During the current aar, the following summarized events occurred: a. Sold 9,700 additional shares of stock to the original organizers for a total or $97,000 cash. b. Purchased a building for $59,000, equipment for $19,000, and four acres of land for $24,000; paid $15,000 in cash and signed a note for the balance (due in 15 years). (Hint Five different accounts are affected) c. Sold one acre of land acquired in (b) for $6,000 cash to another company. d. Purchased short-term investments for $15,500 cash. e. One stockholder reported to the company that 350 shares of his East Hill stock had been sold and transferred to another stockholder for $3,300 cash. f. Lent one of the shareholders $5,900 for moving costs and recolved a signod, six-minth note from the shareholder. c. Borrowed $11,000 from a local bank, signed a note due in six months. equired: 1. Was East Hill Home Healthcare Services organlzed as a sole proprietorship, a portnership, or a corporation? 2. During the current year, the records of the company were inodequate. You were osked to prepare the summary of transactions shown above. To develop a quick assessment of their economic effects on East Hill Home Healthcare Services, complete the tabutation that followh. The first event is used as an example. 4. Based only on the completed tabulation, provide the following amounts 5. Compute the current ratio for the current year. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. During the curtent yeas, the records of the company were inadecuate. You were asked to prepare the summary of transactions shown abeve, To elvelop a guick assetsment Healthcare Service, complete the tabulation that follows. The frst event is used as an example. Note: Enter Cocreases to accounts with a minus siph