Ivanhoe Company sells office equipment on July 31, 2017, for $22,410 cash. The office equipment originally cost $81,920 and as of January 1, 2017, had accumulated depreciation of $37,600 Depreciation for the first 7 months of 2017 is $4,580. Prepare a tabular summary to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) = Liabilities + Stockholders' Equity Assets Retained Earnings Accum. Depr. - Equip Common Stock + Dividend Equipment Cash Revenue Expense Bal. $ $ $ $ $ $ $ (a) (b)