Massimo Company has been operating for one year (2019). You are a member of the management team investigating expansion ideas, all of which will require borrowing funds from banks. At the start of 2020 . Massimo's T-account balances were as follows: Assets: Property and Equipnent 3,000 Required: 1. Using the data from these T-accounts, complete the accounting equation on January 1, 2020: 2. Enter in the T-accounts the following transactions that occurred in 2020 : a. Paid one-haif of the principal on the long-term note payable. b. Sold $1,250 of the investments for $1,250 cash. c. Sold one-half of the property and equipment for $1,500 cash. d. Borrowed $2,500 from the bank and signed a note promising to pay the principal and interest at an annual rate of 5 percent in three years. e. Paid $550 in dividends to shareholders