$17-10 KS Media Corporation had the following income statement and balance sheet for 2020: KS MEDIA CORPORATION Income Statement For the Year Ended December 31, 2020 Service revenue Amortization expense Other expenses Net income $120,000 9,000 81,000 $ 30,000 MED CORPORATION 2018 11 12 She PU Compute the following for KS during 2020: a. Acquisition of equipment. KS sold no equipment during the year. b. Payment of a long-term note payable. During the year, KS issued a $7,500 note payable. 4 Computing investing and financing cash flows a. Acquisitions $16,500 Assets Currents Cash Accounts newbie Equipment KS MEDIA CORPORATION Balance Sheet December 31, 2020 and 2019 2020 2019 Liabilities 2020 2019 Currenties $7,500 $5,000 Accountable $12.000 9.000 15.000 9,000 Long-term des payable 15,000 18,000 112.500 105.000 Shareholders' equity Como share 33.000 10.000 Header 75.000 31000 $135.000 Totalbies and shareholders iO 120.000 Total assets