Kyler Media Corporation had the following income statement and balance sheet for 2012:

Requirement
1. Compute for Kyler Media Corporation during 2012 the
a. acquisition of equipment. The business sold no equipment during the year.
b. payment of a long-term note payable. During the year, the business issued a $5,300 notepayable.

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KYLER MEDIA CORPORATION Income Statemet Year Ended December 31, 2012 Scrvice revenue 80,000 Depreciation expense Other expenses Net income 5,600 49,000 25,400 KYLER MEDIA CORPORATION Comparative Balance Sheet December 31, 2012 and 2011 Liabilitics 2012 2011 Assets 2012 2011 Current: Current: $ 4,800 $ $ 9,000 $ 4,000 Cash Accounts payable 4,100 Long-term notes payable Stockholders' Equity Common stock 3,800 Accounts reccivable 9,600 9,000 15,000 Equipment, net 78,000 67,000 22,000 17,000 Retained carnings 52,400 38,900 $ 92,400 $ 74,900 Total liabilities and stockholders' cquity $ 92,400 S 74,900 Total assets