Masterson Exercise Equipment, Inc. reported the following financial statements for 2018: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) Read the requirements. Requirement 1. Compute the amount of Masterson Exercise's acquisition of plant assets. Masterson Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $43,400. No cash was received upon disposal. The acquisitions of plant assets amounts to $ Requirement 2. Compute new borrowing or payment of long-term notes payable, with Masterson Exercise having only one long-term notes payable transaction during the year. The of long-term notes payable is $ Requirement 3. Compute the issuance of common stock with Masterson Exercise having only one common stock transaction during the year. Issuance of common stock is $ Requirement 4. Compute the payment of cash dividends. Payment of cash dividends is $ The V of long-term notes payable is $ Requi the issuance of common stock with Masterson year. new borrowing payment Issualice OI CONTILTTOIT SUCK IS $ Masterson Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue 709,000 346,000 Cost of Goods Sold Gross Profit 363,000 Operating Expenses: Depreciation Expense 50,000 195,000 Other Operating Expenses Total Operating Expenses 245,000 $ 118,000 Net Income Masterson Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash 22,000 $ 18,000 Accounts Receivable 50,000 45,000 91,000 Merchandise Inventory 87,000 Long-term Assets: Plant Assets 269,500 225,900 Accumulated DepreciationPlant Assets (45,500) 94,000 (38,900) 76,000 Investments $ 477,000 $ 417,000 Total Assets Liabilities Current Liabilities: 75,000 $ 73,000 Accounts Payable Salaries Payable 1,000 8,000 Long-term Liabilities: Notes Payable 63,000 67,000 Total Liabilities 139,000 148,000 Stockholders' Equity Common Stock, no par 46,000 292,000 37,000 232,000 Retained Earnings Total Stockholders' Equity 338,000 269,000 $ 417,000 477,000 $ Total Liabilities and Stockholders' Equity