PA2-1 (Algo) Determining Financial Statement Effects of Various Transactions [LO 2-1, LO 2-2, LO 2.5] Mal ard incorporated iMy is a small manutacturing company that makes model trains to sel to toy stores it has a smoll service department that fepairs customere treins for a fee. The company thas been in business for five years At the end of the previous yeac. the accounting records reflected total sssets of $560,000 and totail lablities of $230,000. During the current yeoc, the following suthmarized events occurred. A. Issued addition al shores of common stock for $95,000 cash b Borrowed 5152500cbsh from the bank and signed a 10 -year note c. Bult an oddition on the buldingt for $215.000 and pald cash to the controctof. d. Purchased equ pment for the new addition for $34,500, poying $3,450 in cosh ond signing o note for the bolance due in two years. e. Returned $3.450 piece of equipment, from (d) becouse it proved to be defectiver receved o reduction of the notes poyable. tPurchased a delivery truck fequipmenti for \$28,250: paid $19,775 cash and signed o two-yeer note for the femaindec 9. A stockholder sold $9.700 of his stock in Mallord incorporated to his neighbor. Required: 1. Complate the spreadiheet thot follows. The first transoction is used os an example. 3. Bosed on beginning bolonces pius the completed spreadsheet, provide the Totol assets. llabilites and stockhplders' equiry at the end ofyear 4. As of the current year-end, has the financing for Mallard incorporoted's (Mi'b) investment in ossets primorily come from labilitiest or stockholders' equity? Complete this question by entering your answers in the tabs below. Cornplete the sweeadsheet that follows. The first trangaction is used as an example. (Enter any decreases to account balances. with a minus sign.) PA2-1 (Algo) Determining Financial Statement Effects of Various Transactions [LO 2-1, LO 2-2, LO 2-5] Mallard incorporated (Mi) is a small manufactuting company that makes model trains to sell to toy stores. It has a small service deportment that repolis customers trains for a fee. The company has been in business for five years. At the end of the previous yec the accounting records reflected total assets of $560,000 and total liabilities of $230.000. During the current year, the following summarized events occurred. a. Issued additional shares of common stock for $95,000 cash. b. Borrowed $152,500 cash from the bank and signed a 10-year note. c. Built on addition on the buildings for $215,000 and paid 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 year: e. Returned a $3,450 plece of equipment, from (d), because it proved to be defective; recelved a reduction of the notes payable 9. A stockholder sold $9,700 of his stock in Mallard incorporated to his neighbor. Required: 1. Complete the spreadsheet that follows. The first transaction is used as an example. 3. Based on beginning balances plus the completed spreodsheet. provide the Total assets, liabilities and stockhoiders' equity at the end of year 4. As of the current year-end, has the finaneing for Mallard incorporated's (Mi's) investment in assets primarily come from liabilities or stockholders'-equity? Complete this question by entering your answers in the tabs below. Based on beginning balances plus the completed spreadsheet, provide the Total assets, llabilities and stockholders' equity at the end of year. the end of year. PA2-1 (Algo) Determining Financial Statement Effects of Various Transactions [LO 2-1, LO 2-2, LO 2-5] Mallard incorporated (M) is o. small manufecturing company that makes model trains to sell to toy stores. it has a small service department that repairs customer' trains for of 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 liabilities of $230.000. During the current year, the following summarlzed events occurred a. Issued additionol shares of common stock for $95,000 cash. b. Borrowed $152,500 cash from the bank and signed a 10 -year note. c. Buit an addition on the buldings for $215,000 and paid cash to the contractor: d. Purchased equipment for the new addition for $34,500, paying $3.450 in cash and 5 lgning a note for the balance due in two years. e. Returned a $3.450 piece of equipment, from (d), because it proved to be defective; recelved a reduction of the notes payable. 1. Purchased a delivery truck lequipmentu for $28,250, paid $19,775 cosh and signed a two-year note for the remainder; 9. A stockholder sold $9700 - of his stock in Mallord Incorporated to his nelghbor: Required: 1. Complete the spreadsheet that follows. The first transaction is used as an example. 3. Based on beginning balances plus the completed spreadsheet, provide the Totat assets, Habilities and stockhoiders' equity at the end of year, 4. As of the current year-end, has the financing for Mallord incorporated's (Mi's) investment in assets primarily come from liabilities or stockholders' equity? Complete this question by entering your answers in the tabs below. As of the current year-end, has the financing for MI's investment in assets primarily come from llabilities or stockholders' equity