Question 1: Katash 'Ihe Katash Company is a leader in the poultry market. It produces, sells and markets fresh and ice packed commodity chicken and frozen products known for their value and healthful qualities. Katash's balance sheet for the scal year ended on December 31, 2912 and 2011 disclosed the following: 2012 21111 Property plant and equipment (at cost} $1,676,928 $1 ,498,268 Less Accumulated depreciation $ 515,026 $ 422,152 $1,161,952 $1,021,116 In the income statement for 2012 Katash disclosed the following: Depreciation expense 3% 1015,6311} In the cash flow statement for 212, under Cash Flow from Investing Activities, Katash provided the following information: Additions to property, plant and equipment 15 (213,526) Proceeds from dispositions of property, plant and equipment 15 15,294 Required: a. What was the cost of property, plant and equipment purchased in 2012'? 1]. What was the net book value of property, plant and equipment disposed of during 2012'? (1. Did Katash generate a gain or a loss on the disposition of PPSLE? How much? (1. Katash calculates depreciation primarily using the straightline method. Assuming the average life of all of Katash's assets is 11'} years, what was the average age of the property, plant and equipment disposed of in 2012