reflected the following: Cash Investments (short-term) Accounts receivable. Inventory $23,000 Accounts payable $21,000 Notes receivable (long-term) Equipment Factory building Intangibles 2,300 Accrued liabilities payable. 3,300 Notes payable (current) 32,000 Notes payable (noncurrent) 1,700 Common stock 54,000 Additional paid-in capital 92,000 Retained earnings 3,100 2,300 7,700 49,000 10,200 91,800 29,400 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $7,900 cash. b. Lent $5,900 to a supplier who signed a two-year note. c. Purchased equipment that cost $27,000; paid $4,300 cash and signed a one-year note for the balance d. Hired a new president at the end of the year. The contract was for $87,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. e. Issued an additional 2,800 shares of $0.50 par value common stock for $12,000 cash. f. Borrowed $16,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $2,600 cash. h. Built an addition to the factory for $30,000; paid $8,200 in cash and signed a three-year note for the balance. i. Returned defective equipment to the manufacturer, receiving a cash refund of $3,400.