Required information CP2-2 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] [The following information applies to the questions displayed below] Athletic Performance Company (APC) was incorporated as a private company. The company's accounts included the following at July 1 : During the month of July, the company had the following activities: a. Issued 3,600 shares of common stock for $360,000 cash. b. Borrowed $47,000 cash from a local bank, payable in two years. c. Bought a bullding for $204,750; paid $41,750 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $250,000. e. Purchased supplies for $14,600 on account. 5. Prepare a classified balance sheet at July 31. Include Retained Earnings on the bolance sheet even though the account has a zero balance