At the end of 19X8. The Coca-Cola Company had total assets of $19.1 billion and total liabilities of $10.7 billion. Included among the assets were property, plant, and equipment with a cost of $5.7 billion and accumulated depreciation of $2.0 billion. Coca-Cola completed the following selected transactions during 1989: The company earned total revenues of $19.8 billion and incurred total expenses of $17.3 billion, which included depreciation of $0.8 billion. During the year. Coca-Cola paid $1.1 billion for new property, plant, and equipment and sold old plant assets, receiving cash of $0.2 billion. The cost of the assets sold was $0.1 billion; their accumulated depreciation was also $0.1 billion. Required 1. Show how Coca-Cola would report property, plant, and equipment on the balance sheet at December 31, 19X9. What was the book value of property, plant, and equipment on that date? 2. How much of the assets that Coca-Cola sold during 19X9 had been depreciated? Did Coca-Cola have a gain or loss on the sale of plant assets during 19X9? What was the amount of the gain or loss? 3. How much was Coca-Cola's owners' equity at December 31, 19X8? 4. Did Coca-Cola report net income or net loss on its 19X9 income statement? Compute the amount. D T