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 2018 2017 Plant assets Equipment Accumulated depreciation Equipment Equipment, net Buildings Accumulated depreciation-Buildings Buildings, net $ 230,000 (120, 000) $ 110,000 $ 430,000 (130,000) $ 300,000 $ 320,000 (230,000) $ 90,000 $ 450,000 (315, 000) $ 135,000 During 2018, a building with a book value of $80,000 and an original cost of $350,000 was sold at a gain of $70,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2018? 3. What was the cost of buildings purchased by Anders during 2018? 1. Cash received from the sale of building Depreciation expense Purchase of building