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Determining Cash Flows from Investing Activities Airco owns several aircraft and its balance sheet indicated...

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Determining Cash Flows from Investing Activities Airco owns several aircraft and its balance sheet indicated the following amounts for its aircraft accounts Jan. 1 Dec. 31 Equipment, aircraft Accumulated depreciation Book value $22,250,000 13,125,000 $9,125,000 $32,700,000 13,900,000 $18,000,000 Required: 1. Assume that Airce did not sell any aircraft during the year. Determine the amount of depreciation expense and the cash spent for aircraft purchases for the year Depreciation expense Cash spent for aircraft purchases 2. Ir Arco sold for cash aircraft that cost 56,100,000 with accumulated depreciation of 53,825,000 producing a pain of 5193,000, determine The amount of depreciation expense B. The cash paid for aircraft purchases The cash intlow from the disposal of aircraft

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