Higgins Company has been operating for one year (2014). You are a member of the management team investigating expansion ideas that will require borrowing funds from banks. At the start of 2015, Higgins's T-account balances were as follows: The following transactions occured in 2015: (a) Borrowed $3,000 from a local bank, signing a note due in three years. (b) Sold $1,300 of the investments for $1,300 cash. (c) Sold one-half of the property and equipment for $1,550 in cash. (d) Declared and paid $340 in cash dividends to stockholders. Required: 1. Using the data from these T-accounts, determine the amounts for the following on January 1,2015 : 2. Enter the above 2015 transactions in the T-accounts