Required information Performance Plastics Company (PPC) has been operating for three years. The beginning account balances are Cash Accounts Receivable Inventory Supplies Notes Receivable (due in three year's) Equipment Buildings Land Accounts Payable Notes Payable (due in three years) Common Stock Retained Earnings $ 38,888 7,200 42,750 7,400 4,950 93,000 125,000 42,750 50, 500 70,000 150,000 90,550 ok During the year, the company had the following summarized activities a Purchased equipment that cost $25,200 paid $7,000 cash and signed a two-year note for the balance b. issued an additional 2,500 shares of common stock for $25.000 cash c. Borrowed $77.000 cash from a local bank payable June 30, in two years. d. Purchased supplies for $8.400 cash. e Built an addition to the factory buildings for $67750 pald $27500 in cash and signed a three year note for the balance Hired a new president to start January for next year. The contract was for $95.000 for each full year worked Help Save 9 e Bult an addition to the factory buildings for 361/50, paid $2,500 in cash and signed a three-year note for the balance Hired a new president to start January 1 of next year. The contract was for $95,000 for each full year worked Chi Part 4 of 5 5. Prepare a classified balance sheet at December 31 1 points PERFORMANCE PLASTICS COMPANY Balance Sheet Prom erence