Requirement 2. Compute new borrowing or payment of long-term notes payable, with Traynor Exercise having only one long-term notes payable transaction during the year.

Traynor 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 shot) Read the requirements Requirement 1. Compute the amount of Traynor Exercise's acquisition of plant assets. Traynor Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asst was $42,100. No cash was received upon disposal The wi ns of plants amounts to $ 2000 Requirement 2. Compute new borrowing or payment of long-term notes payable with Traynor Exercise having only one long term notes payable transaction during the year The new borrowing of long term notes payable is $ 8,000 : 0.4 of 2 pts Help E14-23 (similar to) 10 Data Table nor Exercise Equipment, Inc. reported the following financial statements for 2018: Click the d i Data Table Traynor ercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 dispose ulremd 2018 2017 Assets acquis Traynor Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue Current Assets quiremd oynd $ 711,000 345.000 19,000 $ 53,000 89,000 15,000 47,000 94,000 356.000 Cost of Goods Sold Gross Profit Operating Expenses Depreciation Expense Other Operating Expenses Total Operating Expenses Cash Accounts Receivable Merchandise Inventory Long-term Assets Plant Assets Accumulated Depreciation--Plant Assets $ 55,000 205.000 272,300 (49,300) 92.000 222.400 (36,400) 79.000 421,000 Investments 260,000 106,000 $ 476,000 $ Net Income Total Assets hoose frog Print Done] Print Done parts Investments 79,000 92,000 476,000 $ he amount of Traynor Ex 1 was received upon disp Total Assets 421,000 fost and accumulated deprecia Liabilities sets amounts to $ new borrowing or paymer action during the year. 81,000 $ 1.000 73,000 3.000 of long-term notos payab Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable Total Liabilities 163,000 171,000 145,000 147.000 Stockholders Equity Common Stock, no par Retained Earnings Total Stockholders' Equity 48,000 283.000 331,000 476,000 $ 37.000 237,000 274,000 421,000 Total Liabilities and Stockholders' Equity