Check my work 10 Mallard Incorporated (MI) is a small manufacturing company that makes model trains to sell to toy stores. It has a small service department that repairs Customers' trains for a fee. The company has been in business for five years. At the end of the previous year, the accounting records reflected total assets of $550,000 and total liabilities of $225,000. During the current year, the followigo summarized events occurred: 2 points a. Issued additional shares of common stock for $90,000 cash b. Borrowed 5137,000 cash from the bank and signed a 10 year note. c. Built an addition on the buildings for $202.000 and paid cash to the contractor d. Purchased equipment for the new addition for $45.500, paying $4,550 in cash and signing a note for the balance due in two years. e. Returned a $4,550 plece of equipment, from because it proved to be defective received a reduction of the notes payable Purchased a delivery truck (equipment) for $10,500, paid $7,350 cash and signed a two year note for the remainder 9. A stockholder sold $8,300 of its stock in Mallard Incorporated to his neighbor References Required: 1. Complete the spreadsheet that follows. The first transaction is used as an example, 3. Based on beginning balances plus the completed spreadsheet, provide the Total assets, abilities and stockholders' equity at the end of year 4. As of the current year-end, has the financing for MI's investment in assets primarily come from abilities or stockholders' equity? Complete this question by entering your answers in the tabs below. points Required 1 Required 3 Required 4 eBook Complete the spreadsheet that follows. The first transaction is used as an example. (Enter any decreases to account balances with a minus sign.). Print Assets Liabilities Notes Payable Cash Equipment Buildings Stockholders' Equity Common Retained Stock Earnings 90,000 References 90,000 b C e 1 9 End Required Required 3 > eBook Complete this question by entering your answers in the tabs below. Print Required 1 Required 3 Required 4 References Based on beginning balances plus the completed spreadsheet, provide the Total assets, liabilities and stockholders' equity at the end of year Amount a. Total assets at the end of the year, b. Total liabilities at the end of the year. c. Total stockholders' equity at the end of the year points Required: 1. Complete the spreadsheet that follows. The first transaction is used as an example. 3. Based on beginning balances plus the completed spreadsheet, provide the Total assets, liabilities and stockholders' equity at the end of year. 4. As of the current year-end, has the financing for Mi's Investment in assets primarily come from liabilities or stockholders' equity? eBook Print Complete this question by entering your answers in the tabs below. References Required 1 Required 3 Required 4 As of the current year-end, has the financing for MI's Investment in assets primarily come from liabilities or stockholders' equity? Liabilities Stockholders' Equity
