KS Media Corporation had the following income statement and balance sheet for 2020 (Click the icon to view the income statement.) Click the icon to view the balance sheet) Compute the following for KS during 2020 a. Acquisition of equipment, KS sold no equipment during the year b. Payment of a long-term note payable. During the year, Ksed a $7,500 note payable Income statement a. The acquisition of equipment is $ b. The payment of a long-term note payable is $ KS Media Corporation Income Statement For the Year Ended December 31, 2020 Service revenue Amortization expense Other expenses 5 Not income 120.000 0.000 30.000 Print Done i Balance sheet - X Assets 2020 2019 Current assets Cash Na Meuld CuporaT Balance Sheet December 31, 2020 and 2019 2020 2019 Liabilities Current liabilities 7,500 $ 6,000 Accounts payable 15,000 9,000 Long-term notes payable 112,500 105,000 Shareholders' Equity Common shares Retained earnings $ 135,000$ 120,000 $ 12,000 $ 15,000 9,000 18,000 Accounts receivable Equipment, net 33,000 30,000 75,000 63,000 $ 135,000 $ 120,000 Print Done O