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Farmer Company sold a piece of equipment for $6,000. The equipment had an original cost of $34,000 and accumulated depreciation of $31,00 time of the

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Farmer Company sold a piece of equipment for $6,000. The equipment had an original cost of $34,000 and accumulated depreciation of $31,00 time of the sale. Which of the following correctly shows the effect of the sale on the elements of the financial statements? Balance Sheet Stockholders' Assets = Liabilities + Equity A. 3,000 NA 3,000 B. (3,000) NA (3,000) C. 3,000 NA 3,000 D. 6,000 NA 6,000 Income Statement Revenue/Gain Expenses = Net Income 3,000 NA 3,000 NA 3,000 (3,000) 3,000 NA 3,000 NA NA 6,000 Statement of Cash Flows 6,000 OA 6,000 IA 6,000 IA 6,000 IA Multiple Choice Option B Option A Optionc

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