$10$:$42$

$69$

$,$:

AP$3-3$ Analyzing the Effects of Transactions by Using T$-$Accounts, Preparing a Statement of Earnings, and Evaluating the Total Asset Turnover Ratio and the Return on Assets as a Manager obrace$({)}^{}(P3-3)$ LO$3-4,,3-5,[3-6$

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Alpine Stables Inc. was established on April $1,2023.$ The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April $2023$ are provided for your review:

a$.$ Received contributions from five investors of $$60,000$ in cash $($ $$12,000$ each$),$ a barn valued at $$100,000,$ and land valued at $$90,000.$ Each investor received $3,000$ shares.

b$.$ Built a small barn for $$62,000.$ The company paid half the amount in cash on April $1,2023,$ and signed a three$-$year note