Injection Plastics Company has been operating for three years. At December 31, 2020, the accounting records reflected the following: Cash Investments (short-term) $29,500 3,700 Accounts receivable Intangibles Accounts payable $ 4,700 16,700 4,700 Accrued liabilities 3,700 Inventories 32,500 Short-term borrowings 8,700 Notes receivable (long-term) 2,700 Notes payable (long-term) 56,500 Equipment 56,500 Contributed capital 107,000 Factory building 98,500 Retained earnings 40,200 During the year 2021, the following summarized transactions were completed: a. Purchased equipment that cost $21,400; paid $7,700 cash and signed a one-year note for the balance. b. Issued 3,700 additional shares for $22,200 cash. c. Lent $8,700 to a manager, who signed a two-year note. d. Purchased short-term investments for $10,700 in cash. e. Paid $6,700 on the note in transaction (a). Borrowed $13,700 cash on December 31, 2021, from the bank and signed a note, payable June 30, 2022. g. Purchased a patent (an intangible asset) for $4,700 cash. h. Built an addition to the factory for $30,100; paid $10,700 in cash and signed a three-year note for the balance. 1. Hired a new president at the end of the year. The contract was for $93,500 per year plus options to purchase company shares at a set price based on company performance. J. Returned defective equipment to the manufacturer, receiving a cash refund of $2,700.