Aloe Co.'s 20A2 and 20A1 balance sheets presented the following: 12/31/20A2 12/31/30A1 Equipment $ 275,000 $ 225,000 Accumulated Depreciation 128,000 93,000 During 20A2, old equipment costing $ 35,000 with accumulated depreciation of $ 31,000 was sold at a gain of $ 2,500. All sales and purchases of equipment were for cash. Therefore, the depreciation expense for 20A2 was $ 66,000. Group of answer choices True False