Athletic Performance Company (APC) was incorporated as a private company. The companys accounts included the following at July 1: Accounts Payable $ 5,200 Buildings 227,000 Cash 14,700 Common Stock 334,000 Equipment 39,000 Land 90,500 Notes Payable (long-term) 38,250 Retained Earnings 0 Supplies 6,250 During the month of July, the company had the following activities: Issued 2,800 shares of common stock for $280,000 cash. Borrowed $34,000 cash from a local bank, payable in two years. Bought a building for $212,000; paid $54,000 in cash and signed a three-year note for the balance. Paid cash for equipment that cost $120,000. Purchased supplies for $18,700 on account.