! 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 270,000 (136,000) $ 134,000 $360,000 (246,000) $ 114,000 Equipment, net $ 490,000 (339,000) $ 151,000 Buildings Accum. Depr.-Buildings $470,000 (154,000) $316,000 Buildings, net QS 16-6 Indirect: Computing investing cash flows LO P2 During 2017, a building with a book value of $88,000 and an original cost of $390,000 was sold at a gain of $78,000. 1. How much cash did Anders receive from the sale of the building? 2. How much depreciation expense was recorded on buildings during 2017? 3. What was the cost of buildings purchased by Anders during 2017? Cash received from the sale of building 1 166,000 Depreciation expense 2. Purchase of building 3