Question 7 Imperial Corporation's balance sheet reports equipment that originally cost 66.000. The accumulated depreciation for the equipment is 17.000. Imperial sols the equipment for 58,000. What would the effect be on its income statement and statement of cash flows? Income Statement Cash Flow I do not want to answer this question 0 O Gain 58,000 Operating-C7,000 Loss 158,000 Investing 4658.000 O Gain 9,000 Investing +258,000 Gain 9,000 Operating 58,000 Loss 27,000 Investing -7,000