12. Olivia Company sold a piece of equipment for $6,000. The equipment had an original cost of $38,000 and accumulated depreciation of $35,000 at the time of the sale. Which of the following correctly shows the effect of the sale on the elements of the financial statements? a. Stk Net . Stmt of Assets = Liab. + Rev./Gain - Exp. = Equity Inc. Cash Flow (3,000)|NA |(3,000) NA 3,000 (3,000) 6,000 IA b. Stk Net Stmt of Assets = Liab. + Rev./Gain - Exp. = * Equity Inc. Cash Flow 3,000 NA 3,000 3,000 NA3,000 6,000 IA Net Stmt of Cash Flow Assets= Liab. + Rev./Gain - Exp.I= Equity 3,000 NA 3,000 3,000 NA 3,000 6,000 OA d. Net Assets = Liab. + Rev./Gain - Exp. = Equity 6,000|NA|6,000 6,000 NA6,000 Stmt of Cash Flow 6,000 IA