equired information 2-3 (Algo) Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance, and waluating the Current Ratio LO2-2, 2-4,2-5 The following information applies to the questions displayed below.) aguar Plastics Company has been operating for three years. At December 31 of last year, the accounting ecords reflected the following: $14,000 3,100 5,500 Cash $28,000 Accounts payable Investments (short- term) Accrued liabilities 3,200 payable Accounts receivable Notes payable 4,100 (current) Inventory 33,000 Notes payable (noncurrent) Notes receivable (long-term) 1,400 Common stock Equipment 55,000 Additional paid-in capital Factory building 99,000 Retained earnings Intangibles 4,300 44,000 10,400 93,600 57,400 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $8,100 cash. b. Lent $5,100 to a supplier who signed a two-year note. c Purchased equipment that cost $20,000; paid $5,400 cash and signed a one-year note for the balance. d. Hired a new president at the end of the year. The contract was for $89,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. e issued an additional 1,900 shares of $0.50 par value common stock for $17,000 cash. f. Borrowed $18,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $2,700 cash. h Built an addition to the factory for $27,000; paid $7,000 in cash and signed a three-year note for the balance. 1. Returned defective equipment to the manufacturer, receiving a cash refund of $1,000. JAGUAR PLASTICS COMPANY Balance Sheet Assets Current assets: Cash Accounts receivable Inventory Investments Liabilities Current liabilities: Accounts payable 4,100Accrued liabilities payable 33,000 Notes Payable (current) 18,900X ssss 0 56,000 Total current assets Non-current assets: Total current liabilities Long-term investments Notes payable (noncurrent) Total liabilities Stockholders' Equity 8 8 0 Equipment Factory building Intangibles Common stock Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 3 0 0 $ 56.000 Total assets $ 0