please help solve parts 1 and 2

Fall 2019 AC222-01 11271 General Homework EconomicS & Finance Fall 2019 AC222-01 Principles of Accounting II 11271 Homework: CH14 Score: 0 of 2 pts 4 of 4 (3 complete) S14-7 (similar to) Preston Media Corporation had the following income statement and balance sheet for 2016 m(Clck the loon to view the income statement) m(Click the icon to view the balance sheet) Requirements Compute the acquisition of plant assets for Preston Media Corporation during 2016. The business sold no plant assets during the year Assume the company paid cash for the acquisition of plant assets. Compute the payment of a long-term note payable During the year, the business issued a $4,500 note payable 1. Requirement 1. Compute the acquisition of plant assets for Proston Media Corporation during 2016. The business sold no plant assets during the year Assume the company paid cash for the acquisiion of plant assets The acquisition of equipment is $ Ener vour anse in e answer bos and en ick Check Anewer ne business sold no plant assets during the year. Assume the company paid cash for the acquisitior ed a $4,500 note payable. 2016. The business sold no plant assets during the year. Assume the company paid cash for the acq - X Data Table Preston Media Corporation Income Statement Year Ended December 31, 2016 Sales Revenue S 75,000 Depreciation Expense-Plant Assets 16,000 53,000 Other Expenses 6,000 Net Income Print Done Clear All - X Data Table neet 6. Th sition of plant a Preston Media Corporation issue Comparative Balance Sheet uring 2 December 31, 2016 and 2015 e acquisition of 2015 2016 Assets Current Assets: 4,700 $ Cash $ 3,600 4,100 8,100 Accounts Receivable Long-term Assets 89,350 107,350 Plants Assets (37,350) (21,350) Accumulated Depreciation-Plant Assets 82,800 75,700 Total Assets Liabilities Current Liabilities: S 4,500 6,400 $ Accounts Payable Long-term Liabilities: 11,000 14,000 Notes Payable 18,500 17,400 Total Liabilities Stockholders' Equity 25,000 16,000 Common Stock, no par 41,200 40,400 Retained Eanings 65,400 57.200 Total Stockholders Equity S 82.800 S 75,700 Total Liabilities and Stockholders' Equity Done Print Clear Al