Data Table Superior Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Net Sales Revenue $ 717,000 347,000 Cost of Goods Sold Gross Profit 370.000 S Operating Expenses Depreciation Expense Other Operating Expenses Total Operating Expenses 48,000 195,000 243,000 Net Income 127,000 Print Done Data Table Superior Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Assets Current Assets: Cash 18,000 5 52,000 80,000 17,000 49.000 85.000 Accounts Receivable Merchandise Inventory Long-term Assets Plant Assets Accumulated Depreciation Plant Assets 267.900 (39,900) 100,000 223,200 (34 200) 71.000 Investments s Total Assets 478,000 $ 411,000 Liabilities Current Liabilities s 80,000 $ 73.000 1,000 6.000 Accounts Payable Salaries Payable Long-term Liabilities Notes Payable Total Liabilities 59,000 72 000 140,000 151.000 Stockholders' Equity Common Stock, no par 45.000 292 ann 37.000 233 Print Done More Info . Superior calculated the following amounts for 2024: Acquisition value of plant assets, $87,000. Payment of dividends, $58,000. Payment of long-term notes payable, $13,000. Cash receipt from issuance of common stock, $9,000. Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $42,300. No cash was received upon disposal. Print Done