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Please show full working out. Thank you! Recording the Sale of PPE Assets (FSET) Gaver Company sold machinery that had originally cost $165,000 for $55,000

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Please show full working out. Thank you!

Recording the Sale of PPE Assets (FSET) Gaver Company sold machinery that had originally cost $165,000 for $55,000 in cash. The machinery was three years old and had been depreciated using the double-declining-balance method assuming a five-year useful life and a residual value of $11,000. Using the financial statement effects template, show how the sale of the machinery affects the balance sheet and income statement

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