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can you answer all? CHOWUTR Para HW 40,2 0f 5 points Points: 0 of 1 Save Cast Exercise Equipment, Inc. reported the financial statements for
can you answer all?
CHOWUTR Para HW 40,2 0f 5 points Points: 0 of 1 Save Cast Exercise Equipment, Inc. reported the financial statements for 2024 (Click the icon to view the women the In view the core Read the regulaments Requirement 1. Com o Cand of Cal Cerche de bove. The concept. was received upon deal The actions of parts la table O Cast Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Assets Current Assets Cash $ 18,000 $ 17,000 56,000 Accounts Receivable Merchandise Inventory Long-term Assets 52,000 91.000 88,000 Plant Assets Accumulated Depreciation-Plant Assets 265,100 (38,100) 94,000 212,400 (33,400) 76,000 Investments Print Done Clear all a 66F ~ Hlban A ata table Accounts Receivable 56,000 52,000 88,000 91,000 Merchandise Inventory Long-term Assets Plant Assets Accumulated Depreciation--Plant Assets 265,100 (38.100) 94,000 212,400 (33,400) 76,000 Investments Total Assets $ 483,000 $ 415,000 Liabilities Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities Notes Payable 73,000 $ 5,500 70,000 8,000 57.000 68,000 Print Done Clear all ** 66F otal Assets Liabilities Current Liabilities: $ 73,000 $ 70,000 Accounts Payable Salaries Payable 5,500 8,000 Long-term Liabilities: Notes Payable 57,000 68,000 Total Liabilities 135,500 146,000 Stockholders' Equity Common Stock, no par 47,000 300,500 31,000 238,000 Retained Earnings 347,500 269,000 Total Stockholders' Equity $ 483,000 $ 415,000 Total Liabilities and Stockholders' Equity Print Done - ata table Cast Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $ 712,000 344,000 Cost of Goods Sold Gross Profit 368,000 Operating Expenses: Depreciation Expense $ GA 47,000 205,000 Other Operating Expenses Total Operating Expenses 252,000 S 116,000 Net Income Print Done 1. Compute the amount of Cast Exercises acquisition of plant assets. Assume the acquisition was for cash. Cast Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $42,300. No cash was received upon disposal. 2. Compute new borrowing or payment of long-term notes payable, with Cast Exercise having only one long-term notes payable transaction during the year. 3. Compute the issuance of common stock with Cast Exercise having only one common stock transaction during the year. 4. Compute the payment of cash dividends. Print Done Step by Step Solution
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