Equipment acquired on January $9,20$Y$3,$ at a cost of $$537,000,$ has an estimated useful life of $15$ years, an estimated residual value of $$85,920,$ and is depreciated by the straight$-$line method.a$.$ What was the book value of the equipment at the end of the fifth year, December $31,20$Y$7?$ Round your interim calculations and final answer to the nearest dollar.$fill in the blank $1$For decreases in accounts or outflows of cash, enter your answers as negative numbers. Round annual depreciation to the nearest dollar and use this amount in your follow$-$on calculations. If no account or activity is affected, select $"$No effect" from the dropdown and leave the corresponding number entry box blank.b$1.$ Assuming that the equipment was sold on July $1,20$Y$8,$ for $$268,500,$ illustrate the effects on the accounts and financial statement of depreciation for the six months until the sale date. Statement of Cash FlowsBalance SheetIncome StatementAssets$=$Liabilities$+$Stockholders' Equity$-=+$ July $1.$ fill in the blank $6$ fill in the blank $7$ fill in the blank $8$ fill in the blank $9$Statement of Cash Flows Income Statement fill in the blank $11$ fill in the blank $13$b$2.$ Assuming that the equipment was sold on July $1,20$Y$8,$ for $$268,500,$ illustrate the effects on the accounts and financial statement of the sale of the equipment. Statement of Cash Flows