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Questions number 24 and 25 DEC 31, 2020 DECEMBER 31, 2021 Team Accumulated depreciation 145,000 63,000 157,000 65,000 Gain on sale of equipment in 2021 7,000 Equipment was sold during the year with an original cost of $ 38,000 and a book value of $ 17,000 24. In investment activities, there is a cash inflow from the sale of equipment equal to: a. $7,000 b. $ 21,000 c. $ 28,000 d. $ 38,000 25. In investment activities there is a cash outflow for the purchase of equipment equal to: a. $ 12,000 B. $ 50,000 C. $ 65,000 D. $ 0 No equipment purchased