The following transactions occurred during May, the first month of operations for Hunter Products, Inc.: * Issued 50,000 shares of capital stock to the owners of the corporation in exchange for $600,000 cash * Purchased a piece of land for $400,000, making a $150,000 cash down payment and signing a note payable for the balance. * Made a $60,000 cash payment on the note payable from the purchase of land. * Purchased equipment on credit from BBW, Inc. for $63,000. Question 1. What is the balance in the Cash account at the end of May? Question 2. What are total assets of Hunter Products at the end of May? Question 3. What is the total of Hunter Products' liabilities at the end of May?