Cross-Canada Transport Inc. (CC) provides warehouse and distribution services. The excerpts that follow are adapted from CC's financial statements for fiscal year 2017.

Requirements
1. How much was CC's cost of property and equipment at October 31, 2017? How much was the carrying amount of premises and equipment? Show computations.
2. The financial statements give three pieces of evidence that CC purchased premises and equipment during 2017. What are they?
3. Prepare T-accounts for Premises and Equipment and Accumulated Depreciation. Then show all the activity in these accounts during 2017. Did CC dispose of any assets and, if so, what was the carrying amount?
4. Why has goodwill not been amortized?

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(amounts in thousands) Balance Sheet Assets Total current assets Premises and equipment Less Accumulated depreciation Goodwill October 31 2017 2016 $237,936 $208,530 5,246 5,941 (3,810) (3,428) 4,752 4,304 For the Year Ended October 31 2017 Statement of Cash Flows (in millions) 2016 Cash provided Noncash items affecting net income: Cash used in investing activities Cash used in acquisitions (including $41 of premises and from operating activities: Net income from continuing operations Depreciation Acquisition of premises and equipment equipment) $5,492 $4,757 434 405 (706) (373) (511) (256)