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Required information [The following information applies to the questions displayed below] Mulkeen Service Company, Incorporated, was incorporated by Conor Mulkeen and five other managers. The

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Required information [The following information applies to the questions displayed below] Mulkeen Service Company, Incorporated, was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year: a Recelved \\( \\$ 58,000 \\) cash from the managers; each was issued 1,600 shares of common stock. b. Purchased equipment for use in the business at a cost of \\( \\$ 11,400 \\), one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Signed an agreement with a cleaning service to pay it \\( \\$ 95 \\) per week for cleaning the corporate offices, beginning next year d. Conor Mulkeen borrowed \\( \\$ 20,000 \\) for personal use from a local bank, signing a one-year note. 2. Using the balances in the T-accounts, fill in the following amounts for the accounting equation

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