Disposal of Fixed AssetEquipment acquired on January $3,20$Y$1,$ at a cost of $$415,000,$ has an estimated useful life of $18$ years and an estimated residual value of $$41,500.$a$.$ What was the annual amount of depreciation for the years $20$Y$1,20$Y$2,$ and $20$Y$3,$ using the straight$-$line method of depreciation? Round annual depreciation to the nearest dollar and use this amount in your follow$-$on calculations. Depreciation expense$20$Y$1$$fill in the blank $120$Y$2$$fill in the blank $220$Y$3$$fill in the blank $3$b$.$ What was the book value of the equipment on January $1,20$Y$4?$$fill in the blank $4$For decreases in accounts or outflows of cash, enter your answers as negative numbers. If no account or activity is affected, select $"$No effect" from the dropdown and leave the corresponding number entry box blank.c$.$ Assuming that the equipment was sold on January $2,20$Y$4,$ for $$145,250,$ illustrate the effects on the accounts and financial statements of the sale.Financial Statement EffectsBalance SheetAssets$=$Liabilities$+$Stockholders' Equity$+-=+$Jan. $2.$fill in the blank $10$fill in the blank $11$fill in the blank $12$fill in the blank $13$fill in the blank $14$Statement of Cash FlowsIncome Statementfill in the blank $16$fill in the blank $18$d$.$ Assuming that the equipment was sold on January $2,20$Y$4,$ for $$518,750$ instead of $$145,250,$ illustrate the effects on the accounts and financial statements of the sale.Financial Statement EffectsBalance SheetAssets$=$Liabilities$+$Stockholders' Equity$+-=+$Jan. $2.$fill in the blank $24$fill in the blank $25$fill in the blank $26$fill in the blank $27$fill in the blank $28$Statement of Cash FlowsIncome Statementfill in the blank $30$fill in the blank $32$