Exercise 11-41 (Algorithmic) Determining Cash Flows from Investing Activities Burns Company's 2019 and 2018 balance sheets presented the following data for equipment: 12/31/2019 12/31/2018 Equipment $275,000 $225,000 Accumulated depreciation 128,300 92,700 Book value $146,700 $132,300 During 2019, equipment costing $35,000 with accumulated depreciation of $31,875 was sold for cash, producing a $4,600 gain. Required: 1. Calculate the amount of depreciation expense for 2019. $ 2. Calculate the amount of cash spent for equipment during 2019. $ 3. Calculate the amount that should be included as a cash inflow from the disposal of equipment