Trainer Exercise Equipment, Inc. reported the following financial statements for 2018: Click the icon to view the income statement. (Click the icon to view the comparative balance sheet Read the resuirements Requirement 1. Compute the amount of Trainer Exercises acquisition of plant assets. Trainer Exercke disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $46,800. No cash was received upon disposal The esquisitions of plant assets amounts to Data Table Trainer Exercise Equipment, Inc Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Requirements 0 Data Table $ 21,000 $ 54,000 18000 48.000 89,000 Assets Current Assets Cash Accounts Receivable Morchandise Inventory Long-tam Asses: Plant Assets Accumulated Depreciation-Plant Assets 1. Compute the amount of Trainer Exercises acquisition of plant assets. Assume the acquisition was for cash. Trainer Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $46,800 No cash was received upon disposal 2. Compute new borrowing er payment of long-term notes payable, with Trainer Exercise having only one long-term roles payable transaction during the year 3. Compute the issuance of common stock with Trainer Exercise having only one common stock transaction during the year. 4. Compute the payment of cash dividends 92.000 Trainer Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $714.000 Cost of Goods Sold 347.000 Gross Pront 367.000 Operating Expenses Depreciation Expense $ $ 53,000 Other Operating Expenses 200,000 253,000 Total Operating Expenses $ 114,000 Net Income 270,100 (45,100) 98,000 227.300 (38,900 71,000 Investments $ 487.000 418.000 Print Done Total Assets Llabilities Current Liabilities: $ 74,000 Accounts Payable Salarios Payable Long-tomm Liabilities: 80.000 $ 3,500 4.000 Print Done Notes Payable 63.000 66000 146,500 144 000 48.000 Total Liabilities Stockholders' Equity Common Stock, no par Retained Earning Total Stockholders' Equity 5 Total Liabilities and Stockholders' Equity 37.000 237 000 294,590 340,500 274.000 487,000 $ 418.000 Print Do Done Enter any number in the edit fields and then click Check Answer parts remaining Clear All Check