Traner Exercise Equipment, Inc reported the following financial statements for 2024 (Click the icon to view...

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Traner Exercise Equipment, Inc reported the following financial statements for 2024 (Click the icon to view the income statement) Read the he (Click the icon to view the comparative balance sheet) Requirement 1. Compute the amount of Traner Exercises acamation of plant assets Trainer Exercse disposed of plant assets at book value The cost and accumulated depreciation of the disposed asset was $800 No cash was mceived upon disposal The acquistions of plant assets ancunts to Data table Trainer Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue Cost of Goods Sold Gross Profit $ 715,000 349,000 366,000 Operating Expenses Depreciation Expense 47,000 195,000 Other Operating Expenses 242,000 Total Operating Expenses $ 124,000 Net Income - X eet Requirements 1. Compute the amount of Trainer Exercise's 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. Compule new borrowing or payment of long-term notes payable, with Trainer Exercise having only one long-term notes 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 Print Done Trainer Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 Assets 2024 2023 Current Assets: Cash Accounts Receivable Merchandise Inventory 18,000 $ 14,000 51,000 49,000 85,000 86,000 Long-term Assets: Plant Assets 256,600 219.400 Accumulated Depreciation-Plant Assets (33.600) (33,400) 93,000 77,000 Investments 470,000 $ 412,000 Total Assets Liabilities Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities: 79,000 $ 72,000 4,000 7,500 Notes Payable 60.000 66,000 Total Liabilities 143,000 145,500 Stockholders' Equity Common Stock, no par 43,000 37.000 284,000 229,500 Retained Earnings 327,000 266,500 Total Stockholders' Equity 470,000 S 412,000 Total Liabilities and Stockholders' Equity Traner Exercise Equipment, Inc reported the following financial statements for 2024 (Click the icon to view the income statement) Read the he (Click the icon to view the comparative balance sheet) Requirement 1. Compute the amount of Traner Exercises acamation of plant assets Trainer Exercse disposed of plant assets at book value The cost and accumulated depreciation of the disposed asset was $800 No cash was mceived upon disposal The acquistions of plant assets ancunts to Data table Trainer Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue Cost of Goods Sold Gross Profit $ 715,000 349,000 366,000 Operating Expenses Depreciation Expense 47,000 195,000 Other Operating Expenses 242,000 Total Operating Expenses $ 124,000 Net Income - X eet Requirements 1. Compute the amount of Trainer Exercise's 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. Compule new borrowing or payment of long-term notes payable, with Trainer Exercise having only one long-term notes 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 Print Done Trainer Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 Assets 2024 2023 Current Assets: Cash Accounts Receivable Merchandise Inventory 18,000 $ 14,000 51,000 49,000 85,000 86,000 Long-term Assets: Plant Assets 256,600 219.400 Accumulated Depreciation-Plant Assets (33.600) (33,400) 93,000 77,000 Investments 470,000 $ 412,000 Total Assets Liabilities Current Liabilities: Accounts Payable Salaries Payable Long-term Liabilities: 79,000 $ 72,000 4,000 7,500 Notes Payable 60.000 66,000 Total Liabilities 143,000 145,500 Stockholders' Equity Common Stock, no par 43,000 37.000 284,000 229,500 Retained Earnings 327,000 266,500 Total Stockholders' Equity 470,000 S 412,000 Total Liabilities and Stockholders' Equity