Retu Required information (The following information applies to the questions displayed below.) Higgins Company began operations last year. You are a member of the management team investigating expansion ideas that will require borrowing funds from banks. At the start of the current year, Higgins's T-account balances were as follows: Assets: Short-Tera Investments Cash 5,000 Property and Equipment 3,000 2,500 Liabilities: Short-Tera Notes Payable Long-Term Notes Payable 2,200 800 Common Stock Additional Paid-in Capital 4,000 500 Retained Earnings 3,000 The following transactions occured in current year: a. Borrowed $4,000 from a local bank, signing a note due in three years. b. Sold $1,500 of the investments for $1.500 cash. c. Sold one-half of the property and equipment for $1,500 in cash. d. Declared and paid $800 in cash dividends to stockholders. Required: 1. Using the data from these T-accounts, determine the amounts for the following on January 1 of the current year, Answer is not complete. Assets $ 16,200 Liabilities Stockholders Equity