TITE QUE 514-7 (book/static) Preston Media Corporation had the following income statement and balance sheet for 2018 Click the icon to view the income statement. (Cick the icon to view the balance sheet) Read the requirements Requiremont 1. Compute the acquisition of plant assets for Preston Media Corporation during 2018. The bushow sold no plant anneto oring the year Assume the company pod can tor the acquisition of partssets. The acquisition of equipment in s Data Table Preston Media Corporation Income Statement Year Ended December 31, 2018 Sales Revenue $ Depreciation Expense-Plant Assets Other Expenses Net Income 80.000 11.000 50.000 19.000 Print Done Enter any number in the edit fields and then click Check Answer Clear All Check A 1 part remaining Data Table -X baland to vi Medit pash for the acquisition of plant 2018 2017 Preston Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 Assets Current Assets: Cash Accounts Receivable Long-term Assets: Plants Assets Accumulated Depreciation--Plant Assets Total Assets 5,000 $ 9,600 3.900 5,100 105,350 84,350 (29,350) (18,350) 90,600 $ 75,000 Liabilities Current Liabilities: Accounts Payable Long-term Liabilities: Notes Payable 8,000 $ 4,500 9,000 12.000 wer. Print Done Clear All CH i Data Table Accounts Receivable 9,600 5,100 Long-term Assets: Plants Assets Accumulated Depreciation Plant Assets Cash for the acc 105,350 84,350 (29,350) (18,350) 90,600 $ 75,000 Total Assets $ Liabilities Current Liabilities: $ 8,000 $ 4,500 1 9,000 12,000 Accounts Payable Long-term Liabilities: Notes Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 17,000 16,500 27,000 46,600 23,000 35,500 73,600 58,500 90,600 $ 75,000 $ Print Done Clear All