Required information [The following information applies to the questions displayed below.] Shake Shack Incorporated, which began as a hot dog stand in 2001, now has more than 200 locations worldwide. The following is adapted from Shake Shack's financial statements for the quarter ended June 26, 2019. Dollars are reported in millions. Accounts Payable Accounts Receivable Cash Common Stock Equipment Intangible Assets Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Short-Term Investments $ 38 14 29 255 544 267 2 519 40 6 46 36 Assume that the following events occurred in the following quarter, which ended September 26, 2019. a. Paid $10 cash for additional intangible assets. b. Issued additional shares of common stock for $50 in cash. c. Purchased equipment; paid $30 in cash and signed additional long-term loans for $70. d. Paid $9 cash for accounts payable owed at September 26. e. Conducted negotiations to purchase a farm, which is expected to cost $15. Debit Beginning Balance a. Cash 29 b. 305 Ending Balance 334 Beginning Balance Ending Balance Credit Accounts Receivable Debit Credit Beginning Balance Ending Balance Inventory Short-term Investments Debit Credit Debit Credit Beginning Balance Ending Balance Prepaid Rent Equipment Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Intangible Assets A Ending Balance Accounts Payable A Debit Beginning Balance Ending Balance Intangible Assets Notes Payable (short-term) Debit Beginning Balance Ending Balance Credit Debit Beginning Balance Accounts Payable Credit 27 b. 27 Ending Balance Notes Payable (long-term) Credit Debit Credit Beginning Balance Ending Balance Common Stock Retained Earnings Debit Credit Debit Credit Beginning Balance Beginning Balance 305 Ending Balance 305 Ending Balance