Higgins Company began op are a member of the management team investigating expansion ideas that will require borrowing funds from 1, the start of the current year, Higgins' T-account balances were as follows: Assets: Lavirses: Stockholders' Equity: 1. Using the data from the T-accounts given, complete the accounting equation on January 1 of the current year. 2. Prepare journal entries for transactions (a) through (e) for the current year. a. Borrowed $14,000 from a local bank, signing a note due in three years. b. Sold $11,500 of the investments for $11,500 cash. c. Sold one-half of the property and equipment for $3,500 in cash. d. Declared $4,800 in cash dividends to stockholders. e. Paid dividends to stockholders. 3. Enter the effects of the transactions in Requirement 2 in the T-accounts. 4. Prepare a trial balance at December 31 . 5. Prepare a classified balance sheet at December 31 of the current year. 6. Calculate the current ratio at December 31 of the current year. Complete this question by entering your answers in the tabs below. Using the data from Required 2 given, complete the accounting equation on January 1 of the current year.