The balance sheets of Tully Corporated showed the following at December 31, 2023 and 2022: December 31, 2023 December 31, 2022 Equipment, less accumulated depreciation of $91,200 at December 31, 2023, and $57,000 at December 31, 2022. $ 106,400 $ 140,600 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 depreciation expense for 2023? b. Assume the same facts as in part a, and assume that the estimated useful life of the equipment is five years and the estimated salvage value is $26,600. 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 the equipment is sold on December 31, 2023, for $95,600. Prepare the horizontal model and record the journal entry for the sale of the equipment. 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 the equipment is sold on December 31, 2023, for $95,600. Prepare the horizontal model for the sale of the equipment. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Assets = Balance Sheet Liabilities Income Statement + Stockholders' Equity Net Income Revenues Expenses = + + = < Required B3 Required C2 >