For this question only, assume Ocean purchased equipment for $$60,000$ three years ago, and sold the equipment earlier this year for $$35,000.$ On the date of sale, the equipment's accumulated depreciation was $$20,000.$

Which of the following best describes the impact of the equipment sale on Ocean$$s financial statements?

Group of answer choices

Stockholders' Equity will not be impacted by this transaction.

Total assets will increase by $$35,000.$

Stockholders' Equity will decrease by $$15,000.$

Total assets will decrease by $$40,000.$

Stockholders' Equity will decrease by $$5,000.$