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 $ 290,000 $ 380,000 (254,000) $ 126,000 Equipment Accum Depr.-Equipment (14 00) 146,000 Equipment, net $ 510,000 (351,000) $ 159,000 Buildings Accum. Depr.-Buildings 490,000 (166,000) 324,000 Buildings, net QS 16-6 Indirect: Computing investing cash flows LO P2 During 2017, a building with a book value of $92,000 and an original cost of $410,000 was sold at a gain of $82,000. 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? 1 Cash received from the sale of building 174,000 2 Depreciation expense Purchase of building 3 QS 16-7 Computing cash from asset sales LO P3 The following selected information is from Ellerby Company's comparative balance sheets. At December 31 2017 2016 $ 190,500 (112,200) Furniture $136,500 Accumulated depreciation-Furniture (90,200) The income statement reports depreciation expense for the year of $19,500. Also, furniture costing $54,000 was sold for its book value on December 31, 2017. Complete the general ledger accounts to calculate the cash received from the sale of furniture. Furniture Beg. bal. End, bal 0 Accumulated Depreciation Beg. bal. End. bal. 0 Cost Accumulated depreciation Book value (Cash received)