Please see the attachment.
Condensed Balance Sheet
December 31, 20X1 and 20X2
Cash $10,000 $8,000
Accounts receivable 26500 22500
Investments 10000 20000
Equipment 200000 320000
Accumulated depreciation -20000 -59000
Total assets $226,500 $311,500
Accounts payable $18,000 $21,000
Mortgage payable(current) 5000 22000
Dividends payable 5000 8000
Mortgage payable 75000 110000
Common stock 50000 70000
Retained earning 73500 80500
Total liabilities and owners' equity $226,500 $311,500
a. Equipment costing $20000 and fully depreciated (to $0) was sold for $5000.
b. Long-term investments costing $10000 were sold for $12000.
c. common stock was sold and long-term debt was borowed during 20X2.
There were no noncash financing or investing activities during 20X2.
d. Income defore gain on the sale of equipment and investments for 20X2 totaled $15000.
The firm's average and marginal tax rates are 15% and 20%, respectively.
e. Assume all current liabilities are paid on a timely basis.
f. Assume retained earnings is affected only by net earnings and dividends declared.
What was the amount of the mortgage payment, excluding interest expense, during 20X2?
Without knowing the amount of debt borrowed in 20x2, the only way to determine the amount of the principal paydown on the mortgage during 20x2 is to use the current portion showing on the financial statement ...
The question concerns only one aspect of the financial statements and the supplemental information included. There is an answer provided with some other information in which calculations are attempted to support the easy answer.