Chapter 8 Homework Assignment Help Sex Required information The following information applies to the questions displayed below.) Part 2 of 4 The following events apply to Gulf Seafood for the Year 1 fiscal year: points 1. The company started when it acquired $18,000 cash by Issuing common stock. 2. Purchased a new cooktop that cost $14,100 cash. 3. Earned $22,600 in cash revenue. 4. Paid $10,700 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1 Year 1, the cooktop has an expected useful life of four years and an estimated salvage value of $2,800. Use straight-line depreciation. The adjusting entry was made as of December 31, Year 1. b. What amount of depreciation expense would Gulf Seafood report on the Year 1 income statement? Depreciation expone + Prev 3 4 5 of 5 Next >