{The following information applies to the questions displayed below] The following events apply to Gulf Seafood for the 2016 fiscal year: 1. The company started when it acquired $60,000 cash by issuing common stock. 2. Purchased a new cooktop that cost $40,000 cash. 3. Earned $72.000 in cash revenue. 4. Paid $25,000 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, 2016, the cooktop has an expected useful life of four years and an estimated salvage value of $4,000. Use straight-line depreciation The adjusting entry was made as of December 31, 2016. 5. value: 10.00 points Required in Required a. Record the events in general journal format and post to T-accounts. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record entry for issuance of common stock. Note: Enter debits before credits. Cash Equipment - Cook top Beg. Bal Beg. Bal End. Bal End. Bal Accumulated Depr. Common Stock Beg. Bali Beg Bal End, Bal End. Bal Sales Revenue Salaries Expense Beg. Bal Beg. Bal End. Bal End. Bal Depreciation Expense Beg. Bal End. Bal 19. value: 3.00 points On January 1, 2016 Ballard Company spent $24,000 on an asset to improve its quality. The asset had been purchased on January 1, 2015 for $62,000. The asset had a $16,400 salvage value and a 6-year life. Ballard uses straight-line depreciation. What would be the book value of the asset on January 1, 2019? O O $22,800. $24,800. $12,400. $41,200. O O