Required Information [The following information applies to the questions displayed below.] Performance Plastics Company (PPC) has been operating for three years. The beginning account balances are Cash Accounts Receivable $ 35,000 5,000 Inventory 40,000 Supplies 5,000 Notes Receivable (due in three years) 2,000 Equipment 80,000 Buildings 120,000 Land 30,000 Accounts Payable 37,000 80,000 150,000 50,000 Notes Payable (due in three years) Common Stock Retained Earnings During the year, the company had the following summarized activities: a Purchased equipment that cost $21,000; paid $5,000 cash and signed a two-year note for the balance b. Issued an additional 2,000 shares of common stock for $20,000 cash. c. Borrowed $50,000 cash from a local bank, payable June 30, in two years. d. Purchased supplies for $4,000 cash. e. Built an addition to the factory buildings for $41,000 paid $12,000 in cash and signed a three-year note for the balance Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked Required: 1. Analyze transactions (a)-() to determine their effects on the accounting equation. (Enter any decreases to account belences with a minus sign.) a b C d 1 Ending Balance Assots Cash Supplies Buildings Equipment Liabilities Notes Payable Bong-term) Stockholders' Equity Common Retained i Stock Earnings