Indicate how each of the following transactions would affect Oriole Ltd's statement of income, statement of financial position, and statement of cash flows. If there would be no effect, then state that. a. b. c. Oriole sold a piece of equipment for $39,700. The equipment had originally cost $178,000 and had a carrying amount of $47,000 at the time it was sold. Oriole purchased a new piece of equipment to replace the equipment that had been sold. The new equipment had a cost of $224,000. Oriole recorded the annual depreciation on its equipment in the amount of $123,000. Statement of Income a. Increase in Net Income $ b. Statement of Financial Position Statement of Income a. Increase in Net Income $ b. No Effect C. Decrease in Net Income v $ Statement of Financial Statement of Financial Position S Statement of Cash Flows $