Whistle Stop Incorporated is a small manufacturing company that makes model trains to sell to toy stores. It has a small service department that repairs customers' model trains for a fee. The company has been in business for five years. At the end of the previous year, the accounting records reflected total assets of $620,000 and total liabilities of $210,000. During the current year, the following summarized events occurred: a. Issued additional shares for $140,000 cash. b. Borrowed $100,000 cash from the bank and signed a ten-year note. c. Built an addition on the factory for $224,000 and paid cash to the contractor. d. Purchased equipment for the new addition for $66,000, paying $6,600 in cash and signing a note due in six months for the balance. e. Returned a $6,600 piece of equipment, from (d), because it proved to be defective; received a reduction of the note payable. f. Purchased a delivery truck (equipment) for $12,000; paid $5,000 cash and signed a nine-month note for the remainder. g. A shareholder sold $17,000 worth of his shares in Whistle Stop Incorporated to his neighbour. Required: 1. Complete the spreadsheet given below, for increases and decreased in each account. The first transaction is used as an example. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Shareholders' Equity Transaction Contributed Cash Equipment Building Notes Payable Retained Capital Earnings a. 140,000 140,000 b. C. d. e. f. g. 140,000 0 0 0 140,000 0 2-a. Did you include event (g) in the spreadsheet? Yes No 3. Based on beginning balances plus the completed spreadsheet, provide the following amounts. a. Total assets at the end of the year b. Total liabilities at the end of the year c. Total shareholders' equity at the end of the year 4. As of the current year-end, has the financing for Whistle Stop's investment in assets primarily come from liabilities or shareholders' equity? O Shareholders' equity Liabilities