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Big Trainer Exercise Equipment, Inc. reported the following financial statements for 2018: (Click the icon to view the income statement.) Click the icon to view

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Big Trainer 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 ke Requirement 1. Compute the amount of Trainer Exercise's acquisition of plant assets. Trainer Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $45,700. No cash was received upon disposal. The acquisitions of plant assets amounts to $ ent, Inc. reported the following financial statements for 2018: y the income statement.) 6 (Click the icon to view the comparative balance s Data Table -X ate the nd ad mtas Trainer Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 712,000 344,000 Cost of Goods Sold Gross Profit 368,000 Operating Expenses: Depreciation Expense $ 52,000 195,000 Other Operating Expenses Total Operating Expenses 247,000 Net Income $ 121,000 Print Done Der in the edit fields and then click Check Answer. lar toll Data Table Trainer Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 1s 2018 2017 Assets Current Assets: Cash $ 15,000 18,000 $ 52,000 81,000 48,000 91,000 Accounts Receivable Merchandise Inventory Long-term Assets: Plant Assets Accumulated Depreciation-Plant Assets 269,500 (40,500) 93,000 222,200 (34,200) 80,000 Investments $ Total Assets 473,000 $ 422,000 Liabilities Current Liabilities: Accounts Payable Salaries Pavable $ 74,000 $ 70,000 6.000 4.000 y numbe Print Done S aining ver 0183 21 lar to) Que Data Table Long-term Assets: Plant Assets 222,200 ed pl nd Accumulated Depreciation--Plant Assets 269,500 (40,500) 93,000 (34,200) 80,000 ns Investments Total Assets $ 473,000 $ 422,000 Liabilities 70,000 Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable Total Liabilities 74,000 $ 4,000 6,000 59,000 66,000 137,000 142,000 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity 49,000 287,000 336.000 37,000 243,000 280,000 422.000 Total Liabilities and Stockholders' Equity 473,000 $ my numbe ts Print Done maining ver mpute the amount of Trainer Exercise's acquisition of plant assets. Trainer Exercise disposed at and accumulated depreciation of the disnosed asset was $15.700. No cash was received una Requirements - X 1. Compute the amount of Trainer Exercise's acquisition of plant assets. Assume the acquisition was for cash. Trainer Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $45,700. No cash was received upon disposal. 2. Compute new borrowing or payment of long-term notes payable, with Trainer Exercise having only one long-term notes payable transaction during the year. 3. Compute the issuance of common stock with Trainer Exercise having only one common stock transaction during the year. 4. Compute the payment of cash dividends. Print Done

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