Stenback

Media Corporation had the following income statement and balance sheet for

2018:

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(Click the icon to view the income statement.)

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(Click the icon to view the balance sheet.)Read the requirements

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.

Requirement 1. Compute the acquisition of plant assets for

Stenback

Media Corporation during

2018.

The business sold no plant assets during the year. Assume the company paid cash for the acquisition of plant assets.

The acquisition of equipment is

$20,000

Requirement 2. Compute the payment of a long-term note payable. During the year, the business issued a

$4,900

note payable.

Stenback Media Corporation had the following income statement and balance sheet for 2018: E (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Read the requirements. Requirement 1. Compute the acquisition of plant assets for Stenback Media Corporation during 2018. The business sold no plant assets during the year. Assume the company paid cash for the acquisition of plant assets. The acquisition of equipment is $ 20,000 Requirement 2. Compute the payment of a long-term note payable. During the year, the business issued a $4,900 note payable. The payment of a long-term note payable is Data table Stenback Media Corporation Income Statement Year Ended December 31, 2018 Sales Revenue $ 81,000 Depreciation ExpensePlant Assets 18,000 48,500 Other Expenses $ 14,500 Net Income 1 Data table Stenback Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 Assets 2018 2017 Current Assets: Cash 4,500 $ 4,100 Accounts Receivable 10,600 8,300 Long-term Assets: Plants Assets 89,350 109,350 (39,350) (21,350) Accumulated DepreciationPlant Assets $ 85,100 $ 80,400 Total Assets Liabilities Current Liabilities: 1. na...LL on 2 Enn Liabilities Current Liabilities: Accounts Payable $ 9,500 $ 3,500 Long-term Liabilities: 13,000 14,000 Notes Payable Total Liabilities 22,500 17,500 Stockholders' Equity Common Stock, no par 25,000 37,600 21,000 41,900 Retained Earnings Total Stockholders' Equity 62,600 62,900 $ 85,100 $ 80,400 Total Liabilities and Stockholders' Equity