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Please help me with this problem, below is an example of output. Rouse Exercise Equipment, Inc. reported the following financial statements for 2016: (Click the
Please help me with this problem, below is an example of output.
Rouse Exercise Equipment, Inc. reported the following financial statements for 2016: (Click the icon to view the income statement.) BH (Click the icon to view the comparative balance sheet.) Read the reguirements. Requirement 1. Compute the amount of Rouse Exercise's acquisition of plant assets. Rouse Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was S45.700. No cash was received upon disposal. The acquisitions of plant assets amounts to Data Table Data Table Rouse Exercise Equipment, Inc. Comparative Balance Sheet Rouse Exercise Equipment, Inc. December 31, 2016 and 2015 Income Statement 2016 2015 Year Ended December 31, 2016 Assets Sales Revenue Current Assets 349,000 Cost of Goods Sold 7,000 16,000 Gross Profit 368,000 Accounts Receivable 51,000 45,000 Operating Expenses: Merchandise Inventory 81,000 89,000 Depreciation Expense 52,000 Long-term Assets Other Operating Expenses Plant Assets 268,100 224,800 247,000 Total Operating Expenses Accumulated Depreciation-Plant Assets 44.100 21,000 Net Income 95,000 76,000 nvestments 468,000 413,000 Total Assets Print Done Liabilities Current Liabilities Accounts Payable 79,000 Salaries Payable 3,000 5.000 Long-term Liabilities: 64,000 69,000 Notes Payable 146,000 45,000 Total Liabilities Stockholders' Equity 48,000 Common Stock, no par 32,000 274,000 236,000 Retained Earnings 322,000 268,000 Total Stockholders' Equity 468,000 413,000 Total Liabilities and Stockholders' Equity Enter your answer in the answer box and then click CheckStep by Step Solution
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