Compute the amount of

TrainerTrainer

Exercise's acquisition of plant assets. Assume the acquisition was for cash.

TrainerTrainer

Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was

$ 43 comma 500$43,500.

No cash was received upon disposal.

2.

Compute new borrowing or payment of long-term notes payable, with

TrainerTrainer

Exercise having only one long-term notes payable transaction during the year.

3.

Compute the issuance of common stock with

TrainerTrainer

Exercise having only one common stock transaction during the year.

4.

Compute the payment of cash dividends.

Trainer Exercise Equipment, Inc.
Comparative Balance Sheet
December 31, 2018 and 2017
		2018	2017
Assets
Current Assets:
Cash		$22,000	$18,000
Accounts Receivable		55,000	50,000
Merchandise Inventory		81,000	91,000
Long-term Assets:
Plant Assets		270,100	225,600
Accumulated DepreciationPlant Assets		(44,100)	(36,600)
Investments		92,000	78,000
Total Assets		$476,000	$426,000
Liabilities
Current Liabilities:
Accounts Payable		$82,000	$77,000
Salaries Payable		2,500	3,500
Long-term Liabilities:
Notes Payable		59,000	66,000
Total Liabilities		143,500	146,500
Stockholders' Equity
Common Stock, no par		49,000	33,000
Retained Earnings		283,500	246,500
Total Stockholders' Equity		332,500	279,500
Total Liabilities and Stockholders' Equity		$476,000	$426,000

Trainer Exercise Equipment, Inc.

Income Statement

Year Ended December 31, 2018

Net Sales Revenue

$717,000

Cost of Goods Sold

345,000

Gross Profit

372,000

Operating Expenses:

Depreciation Expense

$51,000

Other Operating Expenses

205,000

Total Operating Expenses

256,000

Net Income

$116,000