Ork Due Feb 5.5:30 pm Saved 4 During its first week of operations ending January 7, FastTrack Sports Inc. completed six transactions with the dollar effects indic the following schedule: Dollar Effect of Each of the six Transactions Ending Accounts 1 2 6 Balance Cash $15,000 $82,000 $(5,000) $(4,900) $(8,800) Notes receivable (short-term) 4,900 Store fixtures 8,800 Land 17,000 Notes payable (due in three months) $8,000 82,000 12,000 8,000 Common stock (15,000 shares) 1,700 Additional paid-in capital 13,300 Required: 2. Prepare a classified balance sheet for FastTrack Sports Inc. on January 7. FASTTRACK SPORTS INC. Balance Sheet Assets Current assets Cash Notes receivable Other current assets Total current assets $ $ 82,000 Liabilities Current liabilities: 78,300 Notes payable 4,900 88,000 171,200 Total current liabilities Stockholders' Equity Common stock Additional paid-in capital 82.000 1,700 13,300