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2 2-3 Recording transactions in I-Accounts, preparing a statement of Financial Position from a mai Balance, and Evaluating the Current Ratio LO2-4, 2-6 Infection Plastics Company has been operating for three years. At December 31, 2020, the accounting records reflected the following cash Investnents (short-term) Accounts receivable Inventories Notes receivable (long-term) Equipment Factory building $27.500 Intangibles 3,300 Accounts payable 4,300 Accrued liabilities 30,500 Short-term borrowings 2,300 Notes payable (long-term) 54,500 Contributed capital 06,500 Retained earnings $4,300 16,300 3.300 8,300 54,500 103, ce 27,00 Book Print During the year 2021, the following summarized transactions were completed 0 Ferences a. Purchased equipment that cost $20,600; paid $7,300 cash and signed a one-year note for the balance. Issued 3,300 additional shares for $19,800 cash c Lent $8,300 to a manager, who signed a two-year note d. Purchased short-term investments for $10,300 In cash e. Pald $6,300 on the note in transaction() Borrowed $13,300 cash on December 31 , 2021, from the bank and signed a note, payable June 30, 2022 n. Built an addition to the factory for $28,900 paid $10,300 in cash and signed a three year note for the balance X. Hired a new president at the end of the year . The contract was for $91,500 per year plus options to purchase company shares at a set price based on company performance. Returned defective equipment to the manufacturer, receiving a cash refund of $2.300 Required: 1& 2 Post the T-accounts for each of the accounts on the statement of financial position and enter the balances at the end of 2020 as beginning balances for 2021. Canh 27500 Investments (short-term) Begbal Beg bal End, hal Endbal 27.500 Accounts Recevable Inventories Beg bal Beg bal End bal End, tal Endbal End, at 27.500 Accounts Receivaba Begal Beg bol End, bal Endbal Notes Receivable (Long-term) Equipment Beg, bal Begal End, bal End bal Factory Building Beg, bal Beg bal End bal End, bal Accounts Payable Accrued Liabilis Beg bol Beg bal End, bal End, bal Short Term Borrowings Notes Payable (Long term Begal Beghal End, but Endbal Contributed Capital Retained mange Beg bol Big bal Contra Beg tal Begal Endal End bal 3. This part of the question is not part of your Connect assignment 4. Prepare a trial balance at December 31, 2021 Crect INJECTION PLASTICS COMPANY Trance At December 31, 2011 Debilt Cash Investments (short-term) Accounts receivable Inventores Notes receivable long-term) Equipment Factory building tangibles Accounts payable Accrued as Shon-term bowings Notas payable ong-term Contributed capital Retained ning Totais 5. Prepare a classified statement of financial position at December 31, 2021 INJECTION PLASTICS COMPANY Statement of Financial Position As at December 21, 2001 Assets Lates Current Current Short-term borrowings Notes payable long-term) Contributed capital Retained earnings Totals 5. Prepare a classified statement of financial position at December 31, 2021 INJECTION PLASTICS COMPANY Statement of Financial Ponition As of December 31, 2021 Assets Liabilities Current assets Current liabilities Total Current Non-cuentes 0 Total current assets Non-current assets Total abilities Shareholders' Equity Total shareholders of Total Babies and shareholders equity Total assets $ 0 6. Compute the current ratlo at December 31, 2021. (Round the final answer to 2 decimal places.) Current rates