Exercise 7-7 Crane Companyhas delivery equipment that cost $49,000 and has been depreciated $23,300 Prepare a tabular summary to record the disposal under the following assumptions. Your answer is partially correct. Try again. It was scrapped as having no value. (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.) Assets - Liabilities + Stockholders' Equity Retained Earnings Cash +Equipment Accum. Depr. Equip. - + Common Stock RevenueExpenseDividend Bal 49,000 23,30 25,70 Loss on disposal LINK TO TEXT Your answer is partially correct. Try again. It was sold for $36,900. (Ifa 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, Assets Liabilities + Stockholders' Equity Retained Earnings Cash +Equipment Accum. Depr. -Equip. + Common StockRevenueExpenseDividend Bal 36,90 49000 23,30 11,20 Gain on disposal Your answer is partially correct. Try again. It was sold for $19,600. (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 th Liability or Equity item that was reduced.) Assets - Liabilities + Stockholders' Equity Retained Earnings Cash +Equipment Accum. Depr. Equip.- + Common StockRevenueExpenseDividend Bal 19 49000 23,30 6,10 Loss on disposal