Compute the following: Dietz owned a delivery van with a book value of $2,000. It traded this old van in on a new one, which cost $16,000. The dealer allowed Dietz a trade-in allowance of $3,500 on the old van, and Dietz paid the remainder in cash.

Compute the following:

a. The amt. of cash Dietz must pay to purchase the new van.

b. The gain on disposal of the old van to be reported in Dietz's financial statement

c. Cost assigned new van to be reported in Dietz's financial statements