Question 7 Not yet answered Marked out of 1.00 P Flag question Use the following information to answer the next three questions: The following selected account balances are taken from the records of Cooper Corporation for the past two years. December 31 2018 2017 Equipment $750 Accumulated depreciation 160 225 Land Bonds payable 30 50 Common stock 120 100 Additional paid in capital 400 320 Retained earnings 825 675 Other information available for 2018: Net income for the year was $200. Depreciation expense on plant and equipment was $70. Equipment with an original cost of $200 and Accum. Dep. of $135 was sold at a gain of $5. No land was sold during the year. . Both new equipment and land were purchased during the year. Bonds payable were retired Common stock was issued for cash. "Business Course * Return to course Common stock 120 100 Additional paid in capital 400 320 Retained earnings 825 675 Other information available for 2018: - Net income for the year was $200. Depreciation expense on plant and equipment was $70. - Equipment with an original cost of $200 and Accum. Dep. of $135 was sold at a gain of $5. No land was sold during the year. Both new equipment and land were purchased during the year. Bonds payable were retired - Common stock was issued for cash. - Cash dividends were declared and paid. How much cash did Cooper Corp. receive from the sale of equipment? Select one: a. 70 ob. 60 c.195 d. 135 e. None of the above