East Hill Home Healthcare Services was organized on January 1, 2019 by four friends. Each organizer invested $10,000 in the company and. in turn, was issued 9,000 shares. To date, they are the only shareholders. At the end of 2020 , the accounting records reffected total assets of $818,000 (\$54,000 cash, $600,000 land, $54,000 equipment, and $110,000 bulldings), total liabilities of $348,000 ishort-term notes payable of $74,000 and long-term notes payable of $274,000 ), and shareholders' equity of $470,000 ( $100,000 contributed capital and $370,000 retained earnings). The following summarized events occurred during January 2021 . a. Soid 8,000 additional shares to the original organizers for a total of $80,000cash b. Purchased a building for $46,000, equipment for $12,000, and four acres of land for $11,000, paid $9,000 in cast and signed a note for the balance (due in 15 years). (Hint Five different accounts are affected) c. Sold one acre of land acquired in (b) for $5,000 cash to another company d Purchased short-term investments for $12,500 cash. e. One shareholder reported to the company that he sold 300 East Hill shares to another shareholder for $3.000 cash. f. Lent $5,200 to one of the shareholders for moving costs, receiving a signed six-month note from the shareholder. Required: 1. Was East Hill Home Healthcare Senvices organized as a sole proprietorship, a partnership, or a corporation? Sole proprietorship Partnership Corporation 2. During January 2021, the records of the company were inadequate. You were asked to prepare the summary of the preceding transactions. To develop a quick assessment of their economic effects on East Hill Home Healtheare Services. (If a transoction does not require an entry, leove the cells blank. Enter any decreoses to account bolances with a minus sign.) 3. This part of the question is not part of your Connect assignment. 4. Based only on the completed tabulation, provide the following amounts at January 31,2021 . 5. Compute the current ratio at January 31, 2021. (Round the final answer to 2 decimal places.)