amework Static Help Set Sum Check my work 7 Part 5 of 6 Required information The following information applies to the questions displayed below) The following events apply to Gulf Seafood for the Year 1 fiscal year, 131 points woor 1. The company started when it acquired 560,000 cash by issuing common stock 2. Purchased a new cooktop that cost $40.000 cash 3. Earned $72,000 in cash revenue 4. Paid $25,000 cash for salaries expense 5. Adjusted the records to reflect the use of the cooktop Purchased on January 1 Year the cooktop has an expected useful life of four years and an estimated salvage value of $4,000. Use straight line depreciation. The adjusting entry was made as of December 31 Year 1 Hint Part Rece e. What amount of accumulated depreciation would Gulf Seafood report on the December 31. Year 2 balance sheet? Accumulated depreciation