! Required information Use the following information for the Quick Study 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 Accum. Depr.-Equipment $ 360,000 (246,000) $ 270,000 (136,000) 134,000 114,000 Equipment, net $ 470,000 ( 154,000) Buildings Accum. Depr.-Buildings s 490,000 (339,000) 316,000 151,000 Buildings, net QS 16-5 Indirect: Computing investing cash flows LO P2 During 2017, equipment with a book value of $58,000 and an original cost of $300,000 was sold at a loss of $6,600. 1. How much cash did Anders receive from the sale of equipment? Answer is complete and correct Cash received from the sale of $ 51,400 equipment 2. How much depreciation expense was recorded on equipment during 2017? Answer is complete but not entirely correct. Depreciation $ 57,000 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