The adjusted trial balance for Rowdy Profits Corporation reports that its equipment had cost $240,000. For the current year, the company has recorded $28,800 of depreciation, which brings the total depreciation to date to $144,000.

Balance Sheet	Income Statement
Assets	Revenues
Liabilities	Expenses
Stockholders Equity

Required:

Using the headings shown above, indicate the location and amounts that would be used to report the three items on the companys balance sheet and income statement. (Any deduction should be entered with a minus sign)

Balance Sheet
Assets
Equipment	$240,000
Accumulated Depreciation
Liabilities
Stockholders Equity

Income Statement
Revenues
Depreciation Expense
	0