Refer to the balance sheet data in QS 12-10 from Anders Company. During 2020, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. 

1. How much cash did Anders receive from the sale of the building? 

2. How much depreciation expense was recorded on buildings during 2020? 

3. What was the cost of buildings purchased by Anders during 2020?

QS 12-10

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ANDERS COMPANY Comparative Year-End Balance Sheets Plant assets 2020 2019 Equipment .... $ 180,000 $ 270,000 Accumulated depreciation-Equipment. (100,000) (210,000) Equipment, net... $ 80,000 $ 60,000 Buildings.... $ 380,000 $ 400,000 Accumulated depreciation-Buildings (100,000) $ 280,000 (285,000) $ 115,000 Buildings, net.