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 $24,000 $ 73,000 $(8,000) $ (3,800) $(9,200) 3,800 9,200 22,000 $8,000 73,000 14,000 8,000 1,300 22,700 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 0 Total current liabilities Stockholders' Equity Total stockholders' equity 0 Total liabilities and stockholders' equity Total assets $ $ 0