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FTT Company was incorporated as a private company. The company's accounts included the following at July 1: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $4,000 200,000 16,000 308,000 18,000 90,000 17,000 0 5,000 During the month of July, the company had the following activities: 2. Issued 2,000 shares of common stock for $200,000 cash. b. Borrowed $30,000 cash from a local bank, payable in two years. c. Bought a building for $141,000; paid $41,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $10,000 on account. Requirementl Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Stockholders Assets Liabilities Equity Cash Common Retained Supplies Buildings Equipment Land Accounts Notes Payable Payable Stock Earnings Beg. 16,000 5,000 200.000 18.000 90,000 4,000 17,000 308,000 a. b. C. d. le. End. 16,000 5,000 200,000 18,000 90,000 4,000 17,000 308,000 O 1-Record the transaction in the journal of KLL 2- Summarize the journal entries using T-accounts (use the template of the exercise 2 Requirement3) 3-Prepare a trial balance at July 31. 4-Prepare a classified balance sheet at July 31. 5- As of July 31, has the financing for APC's investment in assets primarily come from liabilities or stockholders' equity? 6-Compute the current ratio. Interpret the result

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