TOO Dividends 0 50 6. Freies Limited began retail operations on January 1, 2010. On that date. It issued 10. 000 shares of $1 par value common stock for $50,000. On January 1, 2010, Freflies also borrowed $20.000 from a local back. The loan will be due in three years, with 8% interest rate Fireflies pays interests every quarter. On January 31, Firetos used $36.000 of the proceeds to rent a store paying in advance for me next one year. Frefies also purchased $12.000 of merchandise on credit agreeing to pay the supplier within 30 days. Prepare, in good format, Fireflies balance sheet as of January 31, 2008. (20 points) TOO Dividends 0 50 6. Freies Limited began retail operations on January 1, 2010. On that date. It issued 10. 000 shares of $1 par value common stock for $50,000. On January 1, 2010, Freflies also borrowed $20.000 from a local back. The loan will be due in three years, with 8% interest rate Fireflies pays interests every quarter. On January 31, Firetos used $36.000 of the proceeds to rent a store paying in advance for me next one year. Frefies also purchased $12.000 of merchandise on credit agreeing to pay the supplier within 30 days. Prepare, in good format, Fireflies balance sheet as of January 31, 2008. (20 points)