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need help with all parts. Exercise 8-12B Effect of the disposal of plant assets on the financial statements A plant asset with a cost of

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Exercise 8-12B Effect of the disposal of plant assets on the financial statements A plant asset with a cost of $50,000 and accumulated depreciation of $41,000 is sold for $10,000. Required a. What is the book value of the asset at the time of sale? b. What is the amount of gain or loss on the disposal? c. How would the sale affect net income (increase, decrease, no effect) and by how much? d. How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect) and by how much? e. How would the event affect the statement of cash flows (inflow, outflow, no effect) and in what section? EXERCISE 8-12B c. Net income would increase by $ in the year of the sale. d. Total assets would increase by $ . Cash would increase by $ plant assets would decrease by $ and accumulated depreciation would decrease by ? e. Cash would increase by $

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