Higgins Compary began operations last year, You are a member of the manegement team imestigating exparisian ideas that wit requite borrowing funds from banks. On Jenuary t, the start of the curent yesc. Higgins' T-accoung baiances were at folloss. Assets Liabimies: Stockholders' Equity: 1. Using the data from the T-accounts given, complete the accouming equaton on january 1 of the current year. 2. Prepare journal entries for transactions (a) through (e) for the currentyeat : a. Borrowed $14.000 from a local bank, signing a note due in three years. 6. Sold $1,500 of the investments for $11,500 cash. c. Sold one-haif of the preperty and equiment foe $3,500 in cash. d. Declared $4,800 in casen didends to stockholders: e. Paid dividends 10 stockholders. 3. Enter the effects of the transactions in Recquirement 2 in the T-account: 4. Prepare a trial balonce at December 31 . 5. Prepare a classified balance sheet at December 31 at the cunent year. 6. Calculate the current ratio at December 31 of the current year. Comptece this question by entering your answers in the tabs below