Superior Exercise Equipment, Inc. reported the following tinancial statements for 2018 (Click the icon to view the income statement (Click the icon to view the comparative balance sheet) Read the requirements Requirement 1. Compute the amount of Superior Exercises acquisition of plant assets. Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $40,500 No cash was receved upon disposal The acquisitions of plant assets amounts to $ Requirement 2. Compute new borrowing or payment of long-term notes payable, with Superior Exercise having only one long-term notes payable transaction during the year The Requirement 3. Compute the issuance of common stock with Superior Exercise haing ony one common stock transaction during the year Issuance of common stock is S Requirement 4. Compute the payment of cash dividends. Payment of cash dividends is S Data Table of long-tenm notes payable is $ Superior Exercise Equipment, Inc Comparative Balance Sheet December 31, 2018 and 2017 2018 Assets Current Assets 5 18,000 S 7,00 Cash Accounts Recsivable Merchandise Inventory 55,000 89,000 50,000 Data Table 88.000 Long-term Assets: Superior Exercise Equipment, Inc Income Statement Year Ended December 31, 2018 Plant Assets Accumulated Depreciation-Plant Assets Investments 270,000 223,500 (41,000) 34,500) 72.000 5 490,000 S 416,000 99,000 Total Assets Net Sales Revenue Cost of Goods Sold Gross Pront Operating Expenses. S 717.000 346.000 Liabilities Current Liabilities 371,000 Accounts Payable Salaries Payable $ 75,00D ST2,000 8,000 3,500 S 47,000 200,000 Depreciation Expense Other Operating Expenses Total Operating Expenses Long-term Liabilies 64,000 T0.000 Notes Payable 247,000 Total Liabilities 142,500 150,000 S 124,000 Stockholders Equity Net Income Common Stock, no par Retained Eamings Total Stockholders' Equity Total Liabilities and Slockholders Equity 33 000 233,000 266 000 5 490,000 S 416,000 42,000 305,500 347,500 Print Done