69,800 17 Equity profit Operating e is retired at iRs $30,000 carrying (book) value in exchange for cash C. New s acquired for $75,600 cash e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement f. All purchases and sales of inventory are on credit $135, 51e for $75,600 cash d. that had cost $66.600, yielding a $3,800 gain e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement. f. All purchases and sales of inventory are on credit Exercise 16-11 Part 2 17 18 or 20E Next >