Grady Service Company Inc. was organized by Chris Grady and five other investors. The following events occurred during the year: a. Received $63,450 cash from the investors; each was issued 1,410 shares. b. Purchased equipment for use in the business at a cost of $16,200; one-fourth was paid in cash, and the company signed a note for the balance, payable in six months. c. Signed an agreement with a cleaning service to pay it $210 per week for cleaning the corporate offices. d. Lent $2,600 to one of the investors, who signed a note due in six months. e. Issued shares to additional investors, who contributed $6,100 in cash and a lot of land valued at $15,100. f. Paid the amount of the note payable in (b). g. Conor Mulkeen borrowed $10,100 for personal use from a local bank and signed a note payable in one year.