During its first week of operations ended January $7,2023,$ FastTrack Sports Ltd$.$ completed six transactions with the dollar effects indicated in the following schedule:

$\backslash$table$[[,$Dollar Effect of Each of the Six Transactions,$\backslash$table$[[$Ending$],[$Balance$]]],[$Accounts$,1,2,3,4,5,,6],[$Cash$,$$$,15,200,$$$,75,200,$$$(5,000),$$$(4,200),$$$(9,700),,,],[$Note receivable $($short term$),,,,,,4,200,,,,],[$Store fixtures,,,,,,,$9,700,,,],[$Land$,,,,,16,200,,,$$$,4,200,],[$Note payable $($due in three months$),,,,75,200,11,200,,,,4,200,],[$Contributed capital,,$15,200,,,,,,,,]]$

Required:

This part of the question is not part of your Connect assignment

Compute the ending balance in each account and prepare a classified statement of financial position for FastTrack Sports Ltd$.$ on January $7,2023$

$\backslash$table$[[$FASTTRACK SPORTS LTD$.],[$Statement of Financial Position$],[$At January $7,2023],[$Assets$,$Liabilities$],[$Current assets:,,,Current liabilities:,,$],[$Cash$,$$$,71,500,$Note payable,,$],[$Note receivable,,$4,200,,,],[?,,,,,],[$Total current assets,,$75,700,$Total current liabilities,,$0],[,,,$Shareholders' Equity$],[$Store fixtures,,,Contributed capital,,$15,200],[$Land$,,,,,],[?,,,$Total shareholders' equity,,$15,200],[$Total assets,$$,75,700,$Total liabilities and shareholders' equity,$$,15,200]]$