Mertis, Inc. reported Net fixed assets as follows on its Balance sheets for December 31, 2011 and December 31, 2012 look as follows: 2011 2012 Net fixed assets 815,000 865,000 On its 2012 Income statement, Mertis recorded depreciation expense of $36,636 . What amount of cash did Mertis spend in 2012 on new fixed assets

On january 2, well co. purchased 10% of rea, inc.’s outstanding common shares for $400,000, which equaled the carrying amount and the fair value of the interest purchased in rea’s net assets. well did not elect the fair value option. because well is the largest single shareholder in rea, and well’s officers are a majority on rea’s board of directors, well exercises significant influence over rea. rea reported net income of $500,000 for the year and paid dividends of $150,000. in its december 31 balance sheet, what amount should well report as investment in rea?