Required information The following information applies to the questions displayed 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 Aceun. Depr.-Equipment $ 270,000 (210,000) $ 180,000 (100,000) 80,000 $ 60,000 Equipment, net $ 380,000 (100,000) Buildings Accum. Depr.-Buildings Buildings, net $ 400,000 (285,000) $ 115,000 $ 280,000 During 2017, equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000 1. How much cash did Anders receive from the sale of equipment? Answer is complete and correct. Cash received from the sale of equipment $ 37.000 Required information 2. How much depreciation expense was recorded on equipment during 2017? Answer is complete but not entirely correct. Depreciation 130,000 expense 3. What was the cost of new equipment purchased by Anders during 2017? Answer is complete but not entirely correct Purchase of equipment 280,000