Mallard Incorporated $($MI$)$ Is a small manufacturing company that makes model trains to sell to toy stores. It has a small service department that repalrs customers' trains for a fee. The company has been In business for five years. At the end of the previous year. the accounting records reflected total assets of $$560,000$ and total llabilitles of $$230,000.$ During the current year, the following summarized events occurred:

a$.$ Issued additional sh$$res of common stock for $$95,000$ cash.

b$.$ Borrowed $$152,500$ cash from the bank and signed a $10-$year note.

c$.$ Bult an addition on the bulldings for $$215,000$ and pald cash to the contractor.

d$.$ Purchased equipment for the new addition for $$34,500,$ paying $$3,450$ in cash and signing a note for the balance due in two years.

e$.$ Returned a $$3,450$ plece of equipment, from $($d$),$ because it proved to be defective; recelved a reduction of the notes payable.

f$.$ Purchased a delivery truck $($equipment$)$ for $$28,250$; pald $$19,775$ cash and signed a two$-$year note for the remalnder.

g$.$ A stockholder sold $$9,700$ of his stock in Mallard Incorporated to his nelghbor.

Requlred:

Complete the spreadsheet that follows. The first transaction is used as an example.

Based on beginning balances plus the completed spreadsheet, provide the Total assets, llabilitles and stockholders' equity at the end of year.

As of the current year$-$end, has the financing for Mallard Incorporated's $($MI$\text{'}$s$)$ Investment in assets primarily come from Ilabilities or stockholders' equity?

Complete this question by entering your answers in the tabs below.

Required $1$

Required $3$

Complete the spreadsheet that follows. The first transaction is used as an example. $($Enter any decreases to account balances with a minus sign.$)$

$\backslash$table$[[,$Assets,$=,\backslash$table$[[$Liabilities$],[$Notes$],[$Payable$]],+,$Stockholders' Equity$],[,$Cash,Equipment,Buildings,$\backslash$table$[[$Common$],[$Stock$]],\backslash$table$[[$Retained$],[$Earnings$]]],[$a$.,95,000,,,=,$E$,+,95,000,],[$b$.,,,,=1,,+,$a$,],[$c$.,,,,=,,+,x_1,],[$d$.,,,,=,,+,5,],[$e$.,,,,=,,+,10,],[$f$.,,,,=,,+,,],[$g$.,,,,=,,+,,],[\backslash$table$[[$Change in$],[$Balances$]],,,,=,,+,,]]$