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S16-7 Computing investing and financing cash nows Fresdon Medis...

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Accounting

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S16-7 Computing investing and financing cash nows Fresdon Medis Copoaion had the following income sratement and halimnce for 2018: PRESTON MEDIA Income Statement Year Ended December 31, 2018 80,000 11,000 50,000 5 19,000 Sales Revenue Other Expenses Net Income PRESTON MEDIA CORPORATION Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: s 5,000 3,900 5,100 Cash Accounts Recelvable 9,600 Long-term Assets 105,350 Plants Assets Accumulated Depreciation-Plant Assets 84,350 (29,350) (18,350) 90,600 $75.000 Total Assets Liabilities Current Liabilities Accounts Payable s 8,000 4,500 Long-term Liabilities 9,000 17,000 Notes Payable 12,000 Total Liabilities 16,500 Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders Equity 23,000 35,500 58,500 S 90,600 $75,000 27,000 46,600 Total Lsbilities and Stocotholders Equity Requirements 1. Compute the acquisition of plant assets for Preston Media Corporation during assets cash for the acquisition of plant assets. 2. Compute the payment of a long-term note payable. During the year issued a $4,400 note payable

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