answer the required properly

Adamson inc is a small manufacturing company that makes model trains to sell to toy stores. It has a small service department that repairs customers' trains for a fee. The company has been in business for five years. At December 31, 2022 (the company's fiscal yearend), the accounting records reflected total assets of $740,000 (cash, $280,000; equipment, $110,000; buildings, $350,000 ), total liabilities of $320,000 (short-term notes payable, $220,000; long-term notes payable, $100,000 ), and total shareholders' equity of $420,000 (contributed capital, $260,000, retained earnings, $160,000 ). During the current year, 2023, the following events (summarized) occurred: a Borrowed $118,000 cash from the bank and signed a 10 -year note b. Purchased equipment for $38,000, paying $3,800 in cash and signing a note due in six months for the balance. cissued 10.800 shares for $108.000 cash. d. Purchosed o deivery truck (equipment) for $18,000; paid $9.000 cash and signed a short-term note payable for the remainder e Lent $2,400 casin to the company president, Clark Adamson, who signed a note promising to pay the amount and annual interest at the rate of 10 percent in one yeac. f Built an addition on the factory for $320,000 and paid cash to the contractor. g. Purchased $93,000 in long-term investments. heturned a $3.800 piece of equipment purchased in (b) because it proved to be defective; recelved a reduction of the note payable equal to the value of the defective equipment. A shareholder sold $5,800 of her shares in Adamson inc, to her neighbour for $8,000. Required: 1. Prepare a summary of the preceding transactions. Develop a quick assessment of the transaction effects on Adamson Inc. (If a transoction does not require an entry, leove the cells blonk. Enter ony decreases to occount balonces with o minus sign.)