P2-3 Recording Transactions in T-Accounts, Preparing a Statement of Financial Position from a Trial Balance, and Evaluating the Current Ratio LO2-4, 2-6 Injection Plastics Company has been operating for three years. At December 31, 2020, the accounting records reflected the following: During the year 2021 , the following summarized transactions were completed: a. Purchased equipment that cost $19,600; paid $6,800 cash and signed a one-year note for the balance. b. Issued 2,800 additional shares for $16,800 cash. c. Lent $7,800 to a manager, who signed a two-year note. d. Purchased short-term investments for $9,800 in cash. e. Paid $5,800 on the note in transaction (a). f. Borrowed \$12,800 cash on December 31, 2021, from the bank and signed a note, payable June 30, 2022. g. Purchased a patent (an intangible asset) for $3,800 cash. h. Built an addition to the factory for $27,400; paid $9,800 in cash and signed a three-year note for the balance. i. Hired a new president at the end of the year. The contract was for $89,000 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 $1,800. Required: 1 \& 2. Post the T-accounts for each of the accounts on the statement of financial position and enter the balances at the end of 2020 as beginning balances for 2021 . Required: 1\& 2. Post the T-accounts for each of the accounts on the statement of financial position and enter the balances at the end of 2020 as 3. This part of the question is not part of your Connect assignment. 4. Prepare a trial balance at December 31,2021. 5. Prepare a classified statement of financial position at December 31, 2021. 6. Compute the current ratio at December 31,2021 . (Round the final answer to 2 decimal places.)