Part 1 of 4 Save Homework: Chapt... Question 10, EF14-23 (sl... HW Score: 20%, 20 of 100 points O Points: 0 of 5 Masterson Exercise Equipment, Inc. reported the following financial statements for 2024 Click the icon to view the income statement) Click the icon to view the comparative balance sheet) Read the requirements 14 Requirement 1. Compute the amount of Masterson Exercise's acquisition of plant assets. Masterson Exercise disposed of plant assets at book vatue. The cost and accumulated depreciation of the disposed asset was $43,500. No cash was received upon disposal. The acquisitions of plant assets amounts to US Part 1 of 4 O Points: 0 of 5 Data table Masterson Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $ 716,000 348,000 Cost of Goods Soid Gross Profit 368,000 Operating Expenses: Depreciation Expense $ 47,000 190,000 Other Operating Expenses Total Operating Expenses 237,000 Net Income $ 131,000 Print Done Data table Masterson Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Assets Current Assets: Cash $ 14,000 Accounts Receivable 22,000 $ 51,000 89,000 45,000 Merchandise Inventory Long-term Assets: 87,000 Plant Assets Accumulated Depreciation-Plant Assets 263,100 (40,100) 98,000 223,600 (36,600) 79,000 Investments Total Assets $ 483,000 $ 412,000 Print Done modocs example Get more rep ICA CITT Data table Investments 98,000 79,000 $ Total Assets 483,000 $ 412,000 Liabilities Current Liabilities: $ 80,000 $ 77,000 Accounts Payable Salaries Payable Long-term Liabilities: 4,500 8,000 Notes Payable 59,000 72,000 Total Liabilities 143,500 157,000 Stockholders' Equity Common Stock, no par 46,000 293,500 38,000 217,000 Retained Earnings Total Stockholders' Equity 339,500 255,000 Total Liabilities and Stockholders' Equity $ 483,000 $ 412,000 Print Done