Required information [The following information applies to the questions displayed below.] Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles $ 22,000 Accounts payable 2,000 Accrued liabilities payable 3,700 Notes payable (current) 29,000 Notes payable (noncurrent) 1,800 Common stock 40,000 Additional paid-in capital 105,000 Retained earnings 3,800 $22,000 2,300 6,200 49,000 9,600 86,400 31,800 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $8,300 cash. b. Lent $5,500 to a supplier who signed a two-year note. c. Purchased equipment that cost $27,000; paid $4,600 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 2,200 shares of $0.50 par value common stock for $20,000 cash. f. Borrowed $11,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $1,900 cash. h. Built an addition to the factory for $21,000; paid $7,300 in cash and signed a three-year note for the balance. i. Returned defective equipment to the manufacturer, receiving a cash refund of $1,700. 4. Prepare a trial balance at December 31 of the current year. Credit JAGUAR PLASTICS COMPANY Trial Balance At December 31 Account Titles Debit Cash Investments (short-term) Accounts receivable Inventory Notes receivable (long-term) Equipment Factory building Intangibles Accounts payable Accrued liabilities payable Notes payable (current) Notes payable (noncurrent) Common stock Additional paid-in capital Retained earnings Totals