During its first week of operations ending January 7, FastTrack Sports Incorporated comploted six transactions with the dollar effocts indicated in the following schedule: Required: 2. Prepare a classified balance sheet for FastTrack Sports Incorporated on January 7. Required information E2.9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information appiles to the questions displayed below] Griffin Service Company, Incorporated, was organized by Bennett Griffin and five other investors (fthat is, six in total). The following activities occurred during the year: a. Received $88,000 cash from the six investors; each investor was issued 10,200 shares of common stock with a par value of $0.20 per shate. b. Signed a five year lease for $17,000 for the right to use a building each year. c. Purchosed equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). d. Signed an agreement with e cleaning service to pay $300 per week for cleaning the corporate offices next yeat e. Received an odditional contribution from investors who provided $4,800 in cash and land valued at $33,000 in exchange for 2,800 shares of stock in the company. f. Lent $4,300 to one of the investors, who signed o note due in six months 9. Benneft Grifin borrowed $8,800 for personal use from a local bank, signing a one-year note. E2-9 Part 1 Required: 1. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. Required: 1. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts