2. The Baker Company purchased an asset on January 1, 2016 for $200,000. The asset had a $50,000 salvage value and a 10 year life. The asset was sold on January 1, 2018 for $174,000. Show how the sale will affect Baker's financial statements, assuming that Baker uses straight-line depreciation. Assets Liabilities Equity Revenues Expenses. Net Income Cash 3. In preparing the bank reconciliation for Heath Company, a company employee found th the bank statement included an NFS check that the company had received from a customer paying its account at Heath Company. Assets Liabilities Equity Revenues Expenses Net Cash Income 4. A customer returned goods to Whetzel Co. that had been purchased for $60 on accou The goods had originally cost Whetzel $35. Frank credited the customer's account for the re Assets Liabilities Equity Revenues Expenses Net Income Cash 5. The Fisher Company paid $28,000 to improve the quality of a manufacturing ma How will this expenditure affect Fisher's financial statements? Assets Liabilities Equity Revenues 1 Expenses Net Income Cash