During 2017, a building with a book value of $90,000 and an original cost of $400,000 was sold at a gain of $80,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2017? 3. What was the cost of buildings purchased by Anders during 2017?

Required information Use the following information for the Quick Study below. The plant assets section of the comparative balance sheets of Anders Company is reported below ANDERS COMPANY Comparative Balance Sheets 2017 2016 Plant assets Equipment Accum. Depr.- Equipment $ 280,000 370,000 (140,000) (250,000) Equipment, net 140,000 120,000 Buildings Accum. Depr.- Buildings Buildings, net $ 320,000 $ 155,000 $ 480,000 500,000 (160,000) (345,000) QS 16-6 Indirect: Computing investing cash flows LO P2 During 2017, a building with a book value of $90,000 and an original cost of $400,000 was sold at a gain of $80,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2017? 3. What was the cost of buildings purchased by Anders during 2017? Answer is complete but not entirely Cash received from the sale of buildin 1 2. Depreciation expense 3. Purchase of building 170,00 105,00 380,00