Equipment acquired on January 9, 20Y3, at a cost of 5560,000, has an estimated useful life of 20 years has an estimated residual value of $40,000, 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, 2017? 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. b1. Assurning that the equipment was sold on July 1, 20Y8, for $400,000, illustrate the effects on the accounts and financial statement of depreciation for the six months until the sale date. Balance Sheet Statement of Cash Flows Assets Liabilities + Stockholders' Equity Income Statement July 1. Statement of Cash Flows Income Statement b2. Assuming that the equipment was sold on July 1, 20Y8, for $400,000, illustrate the effects on the accounts and financial statement of the sale of the equipment. Balance Sheet Income Statement of Cash Flows Assets Liabilities Stockholders' Equity Statement July 1. Statement of Cash Flows Income Statement