The following events apply to Gulf Seafood for the Year 1 fiscal year: The company started when it acquired $17,000 cash by issuing common stock. Purchased a new cooktop that cost $13,800 cash. Earned $21,200 in cash revenue. Pald $11,700 cash for salaries expense. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful life of four, , ars and an estimated salvage value of $2,900. Use stralght-line depreclation. The adjusting entry was made as of December 31 , Year 1. Required Q. Record the above transactions in a horizontal statements model. b. What amount of depreclation expense would Gulf Seafood report on the Year 1 income statement