Problem:
Plato's Foods has ending net fixed assets of $84,400 and beginning net fixed assets of $79,900. During the year, the firm sold assets with a total book value of $13,600 and also recorded $14,800 in depreciation expense.
Required:
Question: How much did the company spend to buy new fixed assets?
a. -$23,900
b. $3,300
c. $32,900
d. $36,800
e. $37,400
Note: Be sure to show how you arrived at your answer.