Indicate how each of the following transactions would affect Holding Ltd s statement of income, statement of financial position, and statement of cash flows If there would be no effect, then state that a Holding sold a piece of equipment for $37,100 The equipment had originally cost $179,000 and had a carrying amount of $44,000 at the time it was sold b Holding purchased a new piece of equipment to replace the equipment that had been sold The new equipment had a cost of $197,000 c Holding recorded the annual depreciation on its equipment in the amount of $121,000 Statement of Income Statement of Financial Position Statement of Cash Flows a Increase in Net IncomeDecrease in Net IncomeNo Effect $ Increase in Assets and Increase in LiabilitiesIncrease in Assets and Decrease in LiabilitiesDecrease in Assets and Decrease in LiabilitiesIncrease in Assets and Increase in Shareholders' EquityIncrease in Assets and Decrease in Shareholders' EquityDecrease in Assets and Decrease in Shareholders' EquityIncrease in Liabilities and Increase in Shareholders' EquityIncrease in Liabilities and Decrease in Shareholders' EquityDecrease in Liabilities and Decrease in Shareholders' EquityNo Net Effect $ Increase in CashDecrease in CashNo Effect $ b Increase in Net IncomeDecrease in Net IncomeNo Effect $ Increase in Assets and Increase in LiabilitiesIncrease in Assets and Decrease in LiabilitiesDecrease in Assets and Decrease in LiabilitiesIncrease in Assets and Increase in Shareholders' EquityIncrease in Assets and Decrease in Shareholders' EquityDecrease in Assets and Decrease in Shareholders' EquityIncrease in Liabilities and Increase in Shareholders' EquityIncrease in Liabilities and Decrease in Shareholders' EquityDecrease in Liabilities and Decrease in Shareholders' EquityNo Net Effect $ Increase in CashDecrease in CashNo Effect $ c Increase in Net IncomeDecrease in Net IncomeNo Effect $ Increase in Assets and Increase in LiabilitiesIncrease in Assets and Decrease in LiabilitiesDecrease in Assets and Decrease in LiabilitiesIncrease in Assets and Increase in Shareholders' EquityIncrease in Assets and Decrease in Shareholders' EquityDecrease in Assets and Decrease in Shareholders' EquityIncrease in Liabilities and Increase in Shareholders' EquityIncrease in Liabilities and Decrease in Shareholders' EquityDecrease in Liabilities and Decrease in Shareholders' EquityNo Net Effect

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Indicate how each of the following transactions would affect Holding Ltd.s statement of income, statement of financial position, and statement of cash flows. If there

Indicate how each of the following transactions would affect Holding Ltd.s statement of income, statement of financial position, and statement of cash flows. If there would be no effect, then state that.

a.		Holding sold a piece of equipment for $37,100. The equipment had originally cost $179,000 and had a carrying amount of $44,000 at the time it was sold.
b.		Holding purchased a new piece of equipment to replace the equipment that had been sold. The new equipment had a cost of $197,000.
c.		Holding recorded the annual depreciation on its equipment in the amount of $121,000.

	Statement of Income		Statement of Financial Position		Statement of Cash Flows
a.	Increase in Net IncomeDecrease in Net IncomeNo Effect	$	Increase in Assets and Increase in LiabilitiesIncrease in Assets and Decrease in LiabilitiesDecrease in Assets and Decrease in LiabilitiesIncrease in Assets and Increase in Shareholders' EquityIncrease in Assets and Decrease in Shareholders' EquityDecrease in Assets and Decrease in Shareholders' EquityIncrease in Liabilities and Increase in Shareholders' EquityIncrease in Liabilities and Decrease in Shareholders' EquityDecrease in Liabilities and Decrease in Shareholders' EquityNo Net Effect	$	Increase in CashDecrease in CashNo Effect	$
b.	Increase in Net IncomeDecrease in Net IncomeNo Effect	$	Increase in Assets and Increase in LiabilitiesIncrease in Assets and Decrease in LiabilitiesDecrease in Assets and Decrease in LiabilitiesIncrease in Assets and Increase in Shareholders' EquityIncrease in Assets and Decrease in Shareholders' EquityDecrease in Assets and Decrease in Shareholders' EquityIncrease in Liabilities and Increase in Shareholders' EquityIncrease in Liabilities and Decrease in Shareholders' EquityDecrease in Liabilities and Decrease in Shareholders' EquityNo Net Effect	$	Increase in CashDecrease in CashNo Effect	$
c.	Increase in Net IncomeDecrease in Net IncomeNo Effect	$	Increase in Assets and Increase in LiabilitiesIncrease in Assets and Decrease in LiabilitiesDecrease in Assets and Decrease in LiabilitiesIncrease in Assets and Increase in Shareholders' EquityIncrease in Assets and Decrease in Shareholders' EquityDecrease in Assets and Decrease in Shareholders' EquityIncrease in Liabilities and Increase in Shareholders' EquityIncrease in Liabilities and Decrease in Shareholders' EquityDecrease in Liabilities and Decrease in Shareholders' EquityNo Net Effect