422> 8 P7-71A. (Learning Objectives 1, 3, 4,6, 8:Analyze plant asset transactions froma company's financial statements) Savanaugh Stores, Inc., sells electronics and appliances. The excerpts that follow are adapted from Savanaugh's financial statements for 2018 and 2017. March 31, 2018 2017 Balance Sheet (dollars in millions) Assets Total current assets.. $7,986 $6,906 Property, plant, and equipment.4,833 4,196 Goodwill mulared depreciation 2,129 1,723 552 12 Year Ended March 31, 2018 2017 Statement of Cash Flows (dollars in mallions) Operating activities Net income Noncash items affecting net income $1,149 $989 Depreciation 473 460 Investing activities Addisions to property, plant, and equipment (712) (616) Sale of property, plant and equipment150 Requirements I. How mach was Savanaugh's cost of plant assets at March 31, 20187 How much was the 2. The financial statements provide three pieces of evidence that Savanaugh purchased plant 3. Prepare T-accounts for Property. Plant, and Equipment, Accumulated Depreciation; and book value of plant assets? Show computations. assets and goodwill during fiscal year 2018. What are they? Goodwill. Then fill in the T-accounts with information from the comparative balance sheets and cash flow statements. Label each increase or decrease and give its dollar amount 4. Prepare the journal entry for the sale of property, plant, and equipment in 2018 FS 10 1