Shown below are the T-accounts relating to equipment that was purchased for cash by a company on the first day of the current year. The equipment was depreciated on a straight-line basis with an estimated useful life of 10 years and a salvage value of $190. Part of the equipment was sold on the last day of the current year for cash proceeds. Cash Jan. 1 Dec. 31 540 (a) Equipment Jan. 1 1,190 Dec. 31 530 Dec. 31 Dec. 31 Accumulated Depreciation-Equipment Dec. 31 100 130 Depreciation Expense (b) Gain on Disposal of Plant Assets