Question 29 10 pts log sin A company purchased equipment on January 1, 2018 for $70,000. They sold the equipment at the end of 2025 for $47.000. At the time of the sale, the accumulated depreciation totaled $30,000. Which of the following is true about the effects of the sale? (Select ALL that apply) 11 Income will increase by $7,000 At the time of the sale, Net Book Value of the equipment was $40.000 Net Income will decrease by $7,000 Total Assets will increase by $7.000 Total Assets will decrease by 23,000