During 2018, equipment with a book value of $50,000 and an original cost of $260,000 was sold at a loss of $5,000.

1. How much cash did Anders receive from the sale of equipment?

2. How much depreciation expense was recorded on equipment during 2018?

3. What was the cost of new equipment purchased by Anders during 2018?

Required information [The following information applies to the questions displayed belowj The plant assets section of the comparative balance sheets of Anders Company is reported below ANDERS COMPANY Compar ative Balance Sheets 2018 2017 Plant assets $230, 000 (120, 000) $110, 000 $430, 000 (130, 000) $300, 000 320, 000 (230, 000) $ 90, 000 450, 000 (315, 000) $ 135, 000 Equipment Accumul at ed depreciat ion-Equipment Equipment, net Buildings Accumul ated depreciation-Buildings Buildings, net During 2018, equipment with a book value of $50,000 and an original cost of $260,000 was sold at a loss of $5,000 1. How much cash did Anders receive from the sale of equipment? 2. How much depreciation expense was recorded on equipment during 2018? 3. What was the cost of new equipment purchased by Anders during 2018? Answer is complete but not entirely correct. Cash received from the sale of equipment Depreciation expense Purchase of equipment $ 45,000 $ 25,000 $ 240,000X