You are reviewing the financial statements of three companies in the same industry. Specifically, you are...

 

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You are reviewing the financial statements of three companies in the same industry. Specifically, you are interested in the transactions surrounding capital assets during the past year. The following information is available for the three companies. Beginning capital assets, net of Apple Co. $850,500 Banana Co. Cherry Co. $712,200 $488,300 depreciation Ending capital assets, net of 950,000 706,800 284,400 depreciation Depreciation expense 65,200 49,300 (c) Gain (loss) on sale of capital 5,500 (b) (16,800) assets Costs of capital assets acquired 230,600 128,000 55,600 Proceeds from sale of capital (a) 72,500 184,900 assets Required 1 Compute the unknowns. You are reviewing the financial statements of three companies in the same industry. Specifically, you are interested in the transactions surrounding capital assets during the past year. The following information is available for the three companies. Beginning capital assets, net of Apple Co. $850,500 Banana Co. Cherry Co. $712,200 $488,300 depreciation Ending capital assets, net of 950,000 706,800 284,400 depreciation Depreciation expense 65,200 49,300 (c) Gain (loss) on sale of capital 5,500 (b) (16,800) assets Costs of capital assets acquired 230,600 128,000 55,600 Proceeds from sale of capital (a) 72,500 184,900 assets Required 1 Compute the unknowns.