Smith Co. owned equipment that originally cost $48,000. The company sold the equipment on January 1, Year 4, for $16,000 cash. Accumulated depreciation on the day of sale amounted to $34,000. Based on this information, indicate whether each of the following statements is true or false. a) The sale will increase Schubert's net income, but it will not affect the company's operating income. b) Schubert would show a $16,000 cash inflow in the operating activities section of the cash flow statement. c) The sale would result in a decrease in total assets. d) The sale would increase Schubert's equity by $2,000