McKnight Exercise Equipment, Inc., reported the following financial statements for 2012:

Requirement
1. Compute the amount of McKnight Exercise€™s acquisition of plant assets. McKnight Exercise sold no plantassets.

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MCKNIGHT EXERCISE EQUIPMENT, INC. Income Statement Year Ended December 31, 2012 Sales revenue Cost of goods sold Depreciation expense Other expenses Total cxpenses Net income $ 714,000 $ 347,000 52,000 205,000 604,000 $ 110,000 MCKNIGHT EXERCISE EQUIPMENT, INC. Comparative Balance Sheet December 31, 2012 and 2011 2011 Liabilitics Assets 2012 2012 2011 Current: Accounts payable Salary payable Current: $ 19,000 $ 18,000 $ 73,000 $ 72,000 Cash Accounts receivable 54,000 49,000 2,000 5,000 89,000 Long-term notes payable 66,000 Inventory 81,000 59,000 Stockholders' Equity Long-term investments Plant assets, net 95,000 77,000 221,000 183,000 Common stock Retained carnings 47,000 34,000 289,000 239,000 Total liabilities and $470,000 $416,000 Total assets stockholders' equity $470,000 $416,000