Larkspur Industries purchared the following assets and contructed a bulidine as wet. All this was done during the current year. Asets 1 and 2 Thete assets were purchased as a lump sum for 5238.080 cawh. The following information was gathered: Asset 3 This machine was acquired by making a $32,000 dowa payment and issuing a $96,000,1-year, aero-interest bearing note. The note is to be paid oft in at the end of the frst year, It was eutimated that the asset could have been purchaved outright for $116. 480 Asset 4 This machinery was acepulred toy trading in uyed machiren, (The eachange lachs comenercial substance J Facts concernine the trade-in are as follown: Asset 5 Machinery was acqulred by iswaing 1.000 sharet of $1 par vilue cemmon stock. The stock. was actiyehy traded and had a market value of 59 gershare Construction of Buifoline Sentember 1. The peyments to the contrat lot were as fotiom Acquisition of Asset 3 Machinery Acquisition of Asset- 4 Machinery Canh Machinery Acquisition of Asset 5 Machinery Common Stack Pild in Caphtalin Exess ol Par-Camman Stook (To record machinery) Land Buildinge can Gitorst Expene (To record land and buildings) Larkspur Industries purchared the following assets and contructed a bulidine as wet. All this was done during the current year. Asets 1 and 2 Thete assets were purchased as a lump sum for 5238.080 cawh. The following information was gathered: Asset 3 This machine was acquired by making a $32,000 dowa payment and issuing a $96,000,1-year, aero-interest bearing note. The note is to be paid oft in at the end of the frst year, It was eutimated that the asset could have been purchaved outright for $116. 480 Asset 4 This machinery was acepulred toy trading in uyed machiren, (The eachange lachs comenercial substance J Facts concernine the trade-in are as follown: Asset 5 Machinery was acqulred by iswaing 1.000 sharet of $1 par vilue cemmon stock. The stock. was actiyehy traded and had a market value of 59 gershare Construction of Buifoline Sentember 1. The peyments to the contrat lot were as fotiom Acquisition of Asset 3 Machinery Acquisition of Asset- 4 Machinery Canh Machinery Acquisition of Asset 5 Machinery Common Stack Pild in Caphtalin Exess ol Par-Camman Stook (To record machinery) Land Buildinge can Gitorst Expene (To record land and buildings)