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E14-23 (similar to) Question Help Masterson Exercise Equipment, Inc. reported the following financial statements for 2018: E: (Click the icon to view the income statement.) E (Click the icon to view the comparative balance sheet.) Read the requirements Requirement 1. Compute the amount of Masterson Exercise's acquisition of plant assets. Masterson Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $40,500. No cash was received upon disposal. The acquisitions of plant assets amounts to Data Table - X Data Table - X Masterson Exercise Equipment, Inc. Masterson Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 Income Statement Year Ended December 31, 2018 2017 Net Sales Revenue $ Assets 710,000 348,000 Cost of Goods Sold Current Assets 362,000 Cash $ 15,000 18,000 $ 50.000 47,000 $ Gross Profit Operating Expenses: Depreciation Expense Other Operating Expenses Total Operating Expenses 81.000 93,000 49,000 200,000 Accounts Receivable Merchandise Inventory Long-term Assets Plant Assets 249,000 275,300 220,800 $ 113,000 Net Income Accumulated DepreciationPlant Assets Investments (46,300) 92,000 (37,800) 81,000 470,000 $ 419,000 Print Done Total Assets Liabilities Current Liabilities: $ 72,000 74,000 $ 2,000 7,000 Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable Total Liabilities Enter any number in the edit fields and then click Check Answer. 60,000 71,000 3 parts remaining Clear All 136,000 150,000 Stockholders' Equity