Do Itl Review 7-3 Your answer is partially correct. Try again. Concord Company has an old factory machine that cost $56,750. The machine has accumulated depreciation of $31,780. Concord has decided to sell the machine. (a) Prepare a tabular summary to record the sale of the machine for $28,375 cash. (b) Prepare a tabular summary to record the sale of the machine for $17,025 cash. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) In front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.) (a) Assets = Liabilities + Stockholders' Equity Retained Earnings Revenue - Expense - + Equipment + Common Stock + Dividend - Accum. Depr. - Equip. = (31780) 283751 (56750) 34051 Gain on disposal Assets = Liabilities + Stockholders' Equity Retained Earnings Revenue - Expense - ! + - Accum. Depr. - Equip. = + Common Stock + Dividend Cash 17025 Equipment I (56750) Bal. i $ (3178012 1 7945 Loss on disposal + Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT