Burns Company's 2019 and 2018 balance sheets presented the following data for equipment:
____________________________ 12/31/2019 _________ 12/31/2018
Equipment .............................. $325,000 ................. $262,000
Accumulated depreciation ............. 133,900 .................. 108,000
Book value ............................. $191,100 ................. $154,000
During 2019, equipment costing $41,000 with accumulated depreciation of $36,700 was sold for cash, producing a $3,200 gain.
Required:
1. Calculate the amount of depreciation expense for 2019.
2. Calculate the amount of cash spent for equipment during 2019.
3. Calculate the amount that should be included as a cash inflow from the disposal of equipment?