Farmer Company sold a piece of equipment for $6,000. The equipment had an original cost of $34,000 and accumulated depreciation of $31,000 at the time of the sale. Which of the following correctly shows the effect of the sale on the elements of the financial statements? Assets A. 3,000 B. (3,000) C. 3,000 D. 6,000 = Liabilities + Multiple Choice Balance Sheet Option B Option D Option A Option C Stockholders' Equity 3,000 (3,000) 3,000 6,000 Income Statement Revenue/Gain 3,000 3,000 - Expenses = Net Income 3,000 3,000 (3,000) 3,000 6,000 Statement of Cash Flows 6,000 OA 6,000 IA 6,000 IA 6,000 IA

Farmer Company sold a piece of equipment for $6,000. The equipment had an original cost of $34,000 and accumulated depreclation of $31,000 at the time of the sale. Which of the following correctly shows the eflect of the sale on the elements of the financial statements? Multiple Choice Option B Ooven D Optan A Opbion C