Alpha Communications Inc., purchased equipment for $ 14 comma 000. Alpha Communications recorded total depreciation of $ 6 comma 000 on the equipment. Assume that Alpha Communications exchanged the old equipment for new equipment, paying $ 3 comma 500 cash. The fair market value of the new equipment is $ 10 comma 500. Journalize Alpha Communications' exchange of equipment. Assume this exchange has commercial substance.

At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation