Reliance Corporation has provided the following information for the year ended December 31, 2019: The equipment account balance increased $225,000. The equipment accumulated depreciation account balance increased $37,500. Equipment costing $55,000 was sold during the year resulting in a $13,750 gain. Depreciation expense recorded on the equipment during the year was $67,500. Which of the following statements is correct with respect to determining cash flow from operating activities? . Multiple Choice Using the indirect method, net income is decreased by the $30,000 sales price of the equipment. O Using the Indirect method, net income is increased by the $37,500 increase in the accumulated depreciation account balance. Multiple Choice Using the indirect method, net income is decreased by the $30,000 sales price of the equipment. Using the indirect method, net income is increased by the $37,500 increase in the accumulated depreciation account balance. Using the indirect method, net income is increased by the $67,500 depreciation expense. Using the indirect method, net income is increased by the $13,750 gain on the sale of the equipment