106) Changes in the balance sheet accounts at June 30, 2018 and 2019 for the Poker...

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106) Changes in the balance sheet accounts at June 30, 2018 and 2019 for the Poker Company 106) presented below: Increase (Decrease) Assets Cash 480,000 Accounts receivable 200,000 Inventory 300,000 Long-term investments 200,000 Equipment (200,000) Accumulated depreciation (60,000) Liabilities and Stockholders' Equity Accounts payable (40,000) Dividends payable 400,000 Notes payable-Current (200,000) Notes payable-Long-term Common stock, $1.00 par Additional paid-in capital Retained earnings Additional Information for 2019: 400,000 300,000 100,000 80,000 Net income was $480,000 and dividends of $400,000 were declared. Common stock was issued for cash. A new long-term investment was acquired for $360,000. A long-term investment was sold for $160,000. Equipment that cost $600,000 was sold for $200,000. The book value of those assets wa $150,000. The purchase of equipment during 2019 is: A) $250,000. B) $300,000. C) $400,000. D) $270,000. 106) Changes in the balance sheet accounts at June 30, 2018 and 2019 for the Poker Company 106) presented below: Increase (Decrease) Assets Cash 480,000 Accounts receivable 200,000 Inventory 300,000 Long-term investments 200,000 Equipment (200,000) Accumulated depreciation (60,000) Liabilities and Stockholders' Equity Accounts payable (40,000) Dividends payable 400,000 Notes payable-Current (200,000) Notes payable-Long-term Common stock, $1.00 par Additional paid-in capital Retained earnings Additional Information for 2019: 400,000 300,000 100,000 80,000 Net income was $480,000 and dividends of $400,000 were declared. Common stock was issued for cash. A new long-term investment was acquired for $360,000. A long-term investment was sold for $160,000. Equipment that cost $600,000 was sold for $200,000. The book value of those assets wa $150,000. The purchase of equipment during 2019 is: A) $250,000. B) $300,000. C) $400,000. D) $270,000.