The following account information appears in the accounting records of Cheatem Corporation for 2020. 2020 2019 Plant assets.... (Accum. deprec.)...... $ 400,000 (105,000) $ 300,000 (60,000) Other information: Sold plant assets costing $90,000, with accumulated depreciation of $25,000 Gain on sale of equipment: $18,000 Purchased plant assets for cash of ___? Instructions: a. In the space below determine the net cash used by investing activity (Show computations) b. Determine the depreciation expense for the year. Hint: Set up T accounts