[The following information applies to the questions displayed below.) Cougar 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 $ 26,000 Accounts payable 2,500 Accrued liabilities payable 3,100 Notes payable (short-term) 28,000 Notes payable (long-term) 1.200 Common stock 46,000 Additional paid-in capital 108,000 Retained earnings 3.900 $23,000 3,700 6.100 42,000 10,300 92,700 40,900 During the current year, the company had the following summarized activities: a. Purchased short-term investments for $7,200 cash. b. Lent $5,400 to a supplier who signed a two-year note. c. Purchased equipment that cost $24,000; paid $4,800 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 $91,000 per year plus options to purchase company stock at a set price based on company performance. e. Issued an additional 2,800 shares of $0.50 par value common stock for $14,000 cash. f. Borrowed $14,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $1,400 cash. h. Built an addition to the factory for $27,000; paid $8,300 in cash and signed a three-year note for the balance. i. Returned defective equipment to the manufacturer, receiving a cash refund of $2,800. Required: 1. & 2. Post the current year transactions to T-accounts for each of the accounts on the balance sheet. (Two items have been given in the cash T-account as examples). Cash 26,000 Investments (short-term) 2,500 Beg. Bal. Beg. Bal. 7,200 (a) 5,400 (b) End. Bal. 2,500 End. Bal. 13,400 Accounts Receivable 3,100 Inventory 28,000 Beg. Bal. Beg. Bal. End. Bal. 3,100 End. Bal. 28,000 Notes Receivable (long-term) Equipment 46,000 Beg. Bal. 1,200 Beg. Bal. End. Bal. 1,200 End. Bal. 46,000 Factory Building 108,000 Intangibles 3,900 Beg. Bal Beg. Bal. End. Bal. 108,000 End. Bal 3.900 Accounts Payable 23,000 Accrued Liabilities Payable 3,700 Beg. Bal Beg. Bal. End. Bal. 23.000 End. Bal. 3,700 Notes Payable (short-term) 6,100 Long-Term Notes Payable 42,000 Beg. Bal. Beg. Bal. End. Bal 6,100 End. Bal 42,000 Common Stock 10,300 Additional Paid-in Capital 92,700 Beg. Bal. Beg. Bal End. Bal. 10,300 End. Bal. 92,700 Retained Earnings 40,900 Beg. Bal. End. Bal. . . 0 40,900