3. (20 pts) Rayon Company has the following balance sheets and income statements: Depreciation expense for the year was $5,000. Equipment costing $15,000 and having a book value of $8,000 was sold at a loss. Other equipment was purchased during the year, stock was issued for $4,000, and a dividend was paid. Cash Flow T Account Method Cash Dr. Cr. Dr. Dr. Dr. Cr. Income Depreciation Loss Acc Rec Acc Payable Operations Investing Financing Change in Cash Dr. Bal. Cr. Bal