Question 11 of 12 View Policies & Current Attempt in Progress < -/1 ! Touch Tronix Company has a piece of manufacturing equipment that is become obsolete. On December 21, 2020, the company discards the equipment which has a historical cost of $600,000 and accumulated depreciation of $530,000. What is the net impact on the long-term assets of Touch Tronix Company on its December 31, 2020 statement of financial position? O Decrease of $70,000. O Decrease of $600.000. O Decrease of $1.130,000. O Increase of $70,000. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer