Sam's Voting Service sold a voting machine for $75,000, which decreased the accrual based net income, but not by the amount of cash received. The accountant reported that the book value of the voting machine was $80,000. Use the following information teport the gain or loss on the statement of cash flows and compute the total adjustments to reconcile net income to cash basis. Sam's Voting Service Statement of Cash Flows - Indirect Method For the Year Ended December 31, 20XX Operating activities: Net income Adjustments to reconcile net income to cash basis: Depreciation expense Gain (loss) on sale of equipment Total adjustments to reconcile net income to cash basis $160,000 ? ? $1,500,000