0 Data Table X 714,000 341,000 373,000 Sutton Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 52,000 185,000 Other Operating Expenses Total Operating Expenses $ Net Income 237,000 136,000 Print Done E14-23 (similar to) Sutton Exercise Equipment, Inc. reported the following financial statements for 2018: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) Read the requirements. Requirement 1. Compute the amount of Sutton Exercise's acquisition of plant assets. Sutton Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $49,200. No cash was received upon disposal. The acquisitions of plant assets amounts to Data Table x Sutton Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 18,000 $ 15,000 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Long-term Assets: Plant Assets Accumulated DepreciationPlant Assets 56,000 86,000 49,000 85,000 263,400 (36,400) 93,000 216,600 (33,600) 76,000 Investments $ 480,000 $ 408,000 Total Assets Liabilities 80,000 $ 76,000 6,000 4,000 Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable Total Liabilities 57,000 72,000 141,000 154,000 Stockholders' Equity Common Stock, no par 42,000 297,000 33,000 221,000 339,000 254,000 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 480,000 $ 408,000 Print Done