Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash $ 19,000 $ 18,000 Accounts Receivable 52.000 49,000 Merchandise Inventory 81,000 85,000 Long-term Assets: Plant Assets 269,100 219,600 Accumulated Depreciation Plant Assets (45,100) 98,000 (36,600) 75,000 Investments Total Assets $ 474,000 $ 410,000 Liabilities Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities: $ 78,000 $ 2,500 72,000 3,500 60,000 71,000 Notes Payable Total Liabilities 140,500 146,500 Stockholders' Equity Common Stock, no par 44,000 289,500 35,000 228,500 Retained Earnings Total Stockholders' Equity 333,500 263,500 $ Total Liabilities and Stockholders' Equity 474,000 $. 410,000 Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 Cost of Goods Sold Gross Profit 377,000 Operating Expenses: Depreciation Expense $ 49,000 215,000 Other Operating Expenses Total Operating Expenses 264,000 $ Net Income 113,000 1. Compute the amount of Press Exercise's acquisition of plant assets. Assume the acquisition was for cash. Press Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $40,500. No cash was received upon disposal. 2. Compute new borrowing or payment of long-term notes payable, with Press Exercise having only one long-term notes payable transaction during the year. 3. Compute the issuance of common stock with Press Exercise having only one common stock transaction during the year. 4. Compute the payment of cash dividends