Use the Mckniqht Exercise Equipment data in Exercises 14-19 and 14-20. Dita from E14-19 and E1420 are resested here for your conventence. Mcknicht Exercise Equpment, the, reported the followino financial statements E14-19 Requrements: Compute the amount of McKniqht Exercise's accuisition of plant assets. McKriaht Exercise sold no plant assets. E14-20 Pequiremerts: Compute the followina: a. New borrowing or payment of lonq-term notes payable with Mcknight Exercise having only one lone-term note payable transaction during the vear. b. Issuance of common stock, with Mckniaht Exercise having only one common stock transaction during the year. c. Payment of cashdividends. Requiremerts 1. Prepare the company's statement of cash fowa-indirect method-for the year ended December 31, 2019. Test Your Knowledge First, complete ET4T9 and ET42Drequrements E14-19 Compute the amount of McKnight Exercise's acquisition of plant assets. \begin{tabular}{l} Mckniaht Exercise sold no plant assets. \\ \hline inswer: 590 .000 \end{tabular} Hinswer: $90,000 E1420 Compute the following: a. New borrowing or pavment of lono-term notes pavable with McKniaht Exercise havina only one long-term note payable transactionduring the vear. Answer ($66,000$59,000=$7,000) b. Issuance of common stock, with Mckniqht Exercise having only one common stock transaction durine the vear. Ansuer: {$43,000$34,000=$13,000} c. Payment of cash dividends. Answer: \$60,000 Beginning Retained Earnings + Net income- Dridends a Ending retained earnings Set Dividends to X and solve for X $239,000+$110,000X$289,000RetainedEarnings(letX=Dividends) Solving for x$60,000