E2-11 (Algo) Inferring Investing and Financing Transactions and Preparing a Balance Sheet LO2-4, 2-5 During its first week of operations ending January 7, FastTrack Sports Inc. completed six transactions with the dollar effects indicated in the following schedule: Ending Balance Accounts Cash Notes receivable (short-term) Store fixtures Land Notes payable (due in three months) Common stock (15,000 shares) Additional paid-in capital Dollar Effect of Each of the Six Transactions 1 2 3 4 5 6 $ 22,000 $ 71,000 $(6,000) $(4,000) $(9,000) 4,000 9,000 23,000 $7,000 71,000 17,000 7,000 1,500 20,500 Required: 2. Prepare a classified balance sheet for FastTrack Sports Inc. on January 7. FASTTRACK SPORTS INC. Balance Sheet Assets Liabilities Current assets: Current liabilities: Total current assets 0 Total current liabilities Prey 1 of 5 !!! Next > Required: 2. Prepare a classified balance sheet for FastTrack Sports Inc. on January 7. FASTTRACK SPORTS INC. Balance Sheet Liabilities Assets Current assets: Current liabilities: 0 0 Total current assets Total current liabilities Stockholders' Equity 0 Total stockholders' equity 0 Total liabilities and stockholders' equity $ 0 Total assets $