Rowena Media Corporation had the following income statement and balance sheet for 2025: 

Requirements 

1. Compute the acquisition of plant assets for Rowena Media Corporation during 2025. The business sold no plant assets during the year. Assume the company paid cash for the acquisition of plant assets. 

2. Compute the payment of a long-term note payable. During the year, the business issued a $5,300 note payable.

Transcribed Image Text:

ROWENA MEDIA CORPORATION Income Statement Year Ended December 31, 2025 Net Sales Revenue Depreciation Expense-Plant Assets Other Expenses Net Income $ 80,000 5,600 49,000 $ 25,400