Operations? olis on Southwestern Energy's balance earning Objectives 1, 4, 8: Analyze the e yze the effect of a plant asset addition and pt- dieake hesapee assets were property, plant, and equipment with a cost of $4.7 billion and accumulated Cmong the m-of $2.8 billion. Chesapeake Energy completed the following selected transactions 12A Rplant asset transactions on the financial Fnergy had total assets of S17.2 billion and total liabilities of $9.8 billion. Included statements) At the end of 2015 amejation 2016 The company earned total revenues of $26.9 billion and incurred total expenses of Auring 20tons which included depreciation of $1.3 billion. During the year, Chesapeake Energy s21.5 billiditlion for new property, plant, and equipment and sold old plant assets for $0.3 billion. billion fo d S The c Requirements assets sold was $1.0 billion, and their accumulated depreciation was $0.4 billion. Explain how to determine whether Chesapeake Energy had a gain or loss on the sale of old lant assets during the year. What was the amount of the gain or loss, if any? w how Chesapeake Energy would report property, plant, and equipment on the balance sheet at December 31,2016, after all the year's activity. What was the book value of prop- erty, plant, and equipment