McKnight Exercise Equipment, Inc., reported

Price: $2.99


E14-19 Computing the cash effect of acquiring assets [10 min]
McKnight Exercise Equipment, Inc., reported the following financial statements for 2012:

MCKNIGHT EXERCISE EQUIPMENT, INC.
Income Statement
Year Ended December 31, 2012
Sales revenue
Cost of goods sold
Depreciation expense
Other expenses
Total expenses
Net income
$ 347,000
52,000
205,000
$ 714,000
604,000
$ 110,000

and so on ...

Requirement
1. Compute the amount of McKnight Exercise’s acquisition of plant assets. McKnight Exercise sold no plant assets.