848 chapter 16 Stenhack Media Corporacion had the following income statement and balance h S16-7 Computine investing and financing cash flows Learning Objective 2 S16-8 Preparing Use the Stenb calculated fro indirect merh Aien Shore Eered for 2016 STENBACK MEDIA CORPORATION Income Statement Year Ended December 31, 2016 s16-9 Computi Brianna's We S16,000. Bri note payable Requireme $ 77,000 Sales Revenue Depeciation Expense-Plant Assets Other Expenses 26,900 48500 S 1,600 Net income 1. How m 2. Were th would STENBACK MEDIA CORPORATION Comparative Balance Sheet December 31, 2016 and 2015 S16-10 Com Shauna L 2016 2015 Assets Net c Cument Assets S 4,900 Net c Cash $ 4,100 9,100 Accounts Receivable Net c 8,100 Long-serm Assets Cash Plants Assets 108.250 80.350 How mu Accumulated Depreciation-Plant Assets (33,250) (6,350) $ 86,200 Total Assets S 89,000 S16A-11 P Green P Liabilities revenue Current Liabilities $433,0 Accounts Payable $ 6,500 to emp of $56 for the S 4.000 Long-term Liabilities Notes Payable 10,000 11,000 Total Liabilities 16,500 S16A-12 15,000 Miss Stockholders' Equity June Common Stock, no par 24,000 Retained Eamings Total Stockholders Equity 19,000 48,500 52,200 72,500 Total Liabilities and Stockholders' Equity 71,200 $ 89,000 $ 86,200 Requirements 1. Compute the acquisition of plant 2016. The business sold no plant cash for the acquisition of plant 2. Compute the payment of a long-term issued a $4,600 note payable. assets for Stenback Media Corporation during during the year. Assume the company pad assets assets. note payable. During the year, the busines P ye