Mulkeen Service Company, Inc. was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year: a. Received $60,000 cash from the managers, each was issued 1,000 shares of common stock. b. Purchased equipment for use in the business at a cost of $12,000; one-fourth was pald In cash and the company signed a note for the balance (due in six months). C. Signed an agreement with a cleaning service to pay it $120 per week for cleaning the corporate offices, beginning next year. d. Conor Mulkeen borrowed $10,000 for personal use from a local bank, signing a one-year note. Required: 1. For each of the above transactions, record its effects in the appropriate T-accounts. Assume all beginning balances are zero. Cash Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal Note Payable Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. 2. Using the balances in the T-accounts, fill in the following amounts for the accounting equation: Assets Liabilities Stockholders' Equity