HU L I are cash dividends? 2. What was the What was the amount of the cash receipt from the sale of plant assets? E16-23 Computing the cash effect Rouse Exercise Fauim Se Exercise Equipment, Inc. reported the following financial statements for 2018: Learnir 2. Payn 4. Divid ROUSE EXERCISE EQUIPMENT, INC. Income Statement Year Ended December 31, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 54,000 Other Operating Expenses 210,000 Total Operating Expenses Net Income $ 713,000 342,000 371,000 264,000 $ 107,000 ROUSE EXERCISE EQUIPMENT, INC. Comparative Balance Sheet December 31, 2018 and 2017 2017 2018 $ 17,000 57,000 79,000 $ 16,000 46.000 90,000 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Long-term Assets Plants Assets Accumulated Depreciation-Plant Assets Investments Total Assets 260,500 (38.500) 96,000 $ 471,000 216,400 (32,400) 73,000 $ 409.000 Liabilities $71,000 $ 72,000 3,000 5,000 Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable Total Liabilities 61,000 136,000 69,000 145,000 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 45,000 290,000 335,000 $ 471,000 34,000 230,000 264,000 $409,000 Requirements 1. Compute the amount of Rouse Exercise's acquisition of plant assets. Assume the acquisition was for cash. Rouse Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $47,900. No cash was received upon disposal. 2. Compute new borrowing or payment of long-term notes payable, with Rouse Exercise having only one long-term notes payable transaction during the year. 3. Compute the issuance of common stock with Rouse Exercise having only one common stock transaction during the year. 4. Compute the payment of cash dividends