Determining Cash Flows from Investing Activities Airco owns several aircraft and its balance sheet indicated the following amounts for its aircraft accounts: Required: 1. Assume that Airco did not sell any aircraft during the year. Determine the amount of depreciation expense and the cash spent for aircraft purchases for the year. 2. If Airco sold for cash aircraft that cost $3,936,700 with accumulated depreciation of $3,825,000 producing a gain of $318,000