The Katash Company is a leader in the poultry market. It produces, sells and markets fresh...

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The Katash Company is a leader in the poultry market. It produces, sells and markets fresh and ice packed commodity chicken and frozen products known for their value and healthful qualities. Katash's balance sheet for the fiscal year ended on December 31, 2012 and 2011 disclosed the following: Property plant and equipment (at cost) Less Accumulated depreciation 2012 $1,676,978 $ 515,026 $1,161,952 In the income statement for 2012 Katash disclosed the following: Depreciation expense 2011 $1,498,268 $ 427,152 $1,071,116 $ 106,630 In the cash flow statement for 2012, under Cash Flow from Investing Activities, Katash provided the following information: Additions to property, plant and equipment Proceeds from dispositions of property, plant and equipment $ (213,576) $ 15,294 Required: a. What was the cost of property, plant and equipment purchased in 2012? b. What was the net book value of property, plant and equipment disposed of during 2012? c. Did Katash generate a gain or a loss on the disposition of PP&E? How much? d. Katash calculates depreciation primarily using the straight-line method. Assuming the average life of all of Katash's assets is 10 years, what was the average age of the property, plant and equipment disposed of in 2012? The Katash Company is a leader in the poultry market. It produces, sells and markets fresh and ice packed commodity chicken and frozen products known for their value and healthful qualities. Katash's balance sheet for the fiscal year ended on December 31, 2012 and 2011 disclosed the following: Property plant and equipment (at cost) Less Accumulated depreciation 2012 $1,676,978 $ 515,026 $1,161,952 In the income statement for 2012 Katash disclosed the following: Depreciation expense 2011 $1,498,268 $ 427,152 $1,071,116 $ 106,630 In the cash flow statement for 2012, under Cash Flow from Investing Activities, Katash provided the following information: Additions to property, plant and equipment Proceeds from dispositions of property, plant and equipment $ (213,576) $ 15,294 Required: a. What was the cost of property, plant and equipment purchased in 2012? b. What was the net book value of property, plant and equipment disposed of during 2012? c. Did Katash generate a gain or a loss on the disposition of PP&E? How much? d. Katash calculates depreciation primarily using the straight-line method. Assuming the average life of all of Katash's assets is 10 years, what was the average age of the property, plant and equipment disposed of in 2012?