Refer to the balance sheet data in QS 16-5 from Anders Company. During 2017, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000.
a. How much cash did Anders receive from the sale of the building?
b. How much depreciation expense was recorded on buildings during 2017?
c. What was the cost of buildings purchased by Anders during 2017?