Griffin Service Company, Inc., was organized by Bennett Griffin and five other investors. The following activities occurred during the year. a. Received $80,000 cash from the six investors; each investor was issued 9,400 shares of common stock with a par value of $0.10 per share. b. Purchased equipment for use in the business at a cost of $28,000: one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement with a cleaning service to pay $220 per week for cleaning the corporate offices d. Received an additional contribution from investors who provided $4,000 in cash and land valued at $25,000 in exchange for 2,000 shares of stock in the company, e. Lent $3,500 to one of the investors, who signed a note due in six months 1. Bennett Griffin borrowed $8.000 for personal use from a local bank, signing a one-year note. next year. E2-9 Part 2 2. Using the balances in the T-accounts, fill in the following amounts for the accounting equation: Assets Stockholders. Equity