Fruity Farms was incorporated as a private company on January 1, 2017. The company's accounts included the following at January 31, 2017: $ 20,000 50,000 Accounts Payable Building Buck Overdraft Contributed Capital Equipment Land Notes Tayable, due 2019 Retained Barnings Supplies $100,000 22,000 74.000 3,000 75,000 43,000 During the month of February, the company had the following activities: a. Paid a dividend to shareholders of $15.000. 6. Repaid $10,000 cash to a local bank. c. Issued 500 shares for $50,000 cash. d. Purchased equipment for $30,000, paying $3,000 in cash and signing a note due in six months for the balance, e. Purchased supplies for $3,000 on account. 3. Summarize the journal entry effects from requirement 2 using T-accounts Cash Supplies Beg. bal. Beg. bal. End. bal. End. bal. Building Equipment Beg, bal Beg. bal. I End, bal End, bal Land Accounts Payable Beg bal Beg. hal. End bal. End, hal. Note Payable Contributed Capital Beg bal. Beg, bal. End, bal. 4. Prepare a classified balance sheet at February 28, 2017. FRUITY FARMS Balance Sheet At February 28, 2017 Assets Liabilities Current assets Current liabilities Total current assets 0 Total current liabilities Total liabilities Shareholders' equity Total shareholders' equity 0 Total liabilities & shareholders' equity Total assets $