Cash Accounts Receivable Inventory Supplies Notes Receivable (due in three years) Equipment Buildings Land Accounts Payable Notes Payable (due in three years) Common Stock Retained Earnings $ 48,000 9,000 53,500 9,800 3,950 107,500 150,000 41 , 38,000 123,000 150,000 111,750 During the year, the company had the following summarized activities: a. Purchased equipment that cost $21,400; paid $6,200 cash and signed a two-year note for the balance. b. Issued an additional 4,100 shares of common stock for $41,000 cash. c. Borrowed $64,500 cash from a local bank, payable June 30, in two years. d. Purchased supplies for $5,250 cash. e. Built an addition to the factory buildings for $62,500; paid $22,500 in cash and signed a three-year note for the balance f. Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked. Assets Liabilities Stockholders a b . d e