The balance sheets of HIROE Inc. showed the following at December 31, 2020, and 2019: Equipment, less accumulated depreciation of $30, 450 at December 31, 2020, and $21, 750 at December 31, 2019. December 31, 2020 $ 39, 150 December 31, 2019 $ 47,850 Required: a. If there have not been any purchases, sales, or other transactions affecting this equipment account since the equipment was first acquired, what is the amount of the depreciation expense for 2020? b. Assume the same facts as in part a, and assume that the estimated useful life of the equipment to HiROE Inc., is eight years and that there is no estimated salvage value. Determine: 1. What the original cost of the equipment was. 2. What depreciation method is apparently being used. 3. When the equipment was acquired. c. Assume that this equipment account represents the cost of 10 identical machines. Prepare the horizontal model and record the journal entry for the sale of the machine to calculate the gain or loss on the sale of one of the machines on January 2, 2021, for $4,350. Indicate the financial statement effect. Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required C1 Required C2 Assume that this equipment account represents the cost of 10 identical machines. Prepare the horizontal model for the sale of the machine to calculate the gain or loss on the sale of on (Enter decreases with a minus sign to indicate a negative financial statement effect.) Assets Balance Sheet Liabilities + Stockholders' Equity Net Income + + - < Required B3 Required C2 > Income Statement Revenues