Cougar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $20,000 Accounts payable $18,000 2,700 6,300 48,000 10,300 92,700 32,800 2,600 3,300 Accrued liabilities payable Notes payable (short-term) Notes payable (long-term) 29,000 2,600 Common stock 59,000 Additional paid-in capital 90,000 Retained earnings 4,300 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $8,600 cash. b. Lent $6,700 to a supplier who signed a two-year note c. Purchased equipment that cost $25,000; paid $5,200 cash and signed a one-year note for the balance d. Hired a new president at the end of the year. The contract was for $78,000 per year plus options to purchase company stock at a set price based on company performance e. Issued an additional 2,000 shares of $0.50 par value common stock for $19,000 cash. f Borrowed $12,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $3,000 cash. h. Built an addition to the factory for $21,000; paid $8,200 in cash and signed a three-year note for the balance i. Returned defective equipment to the manufacturer, receiving a cash refund of $1,200