The equipment balance increased by $214,000 from the beginning of the year to the end of the year. The equipment accumulated depreciation account balance increased by $36,400 from the beginning of the year to the end of the year. Equipment costing $52,800 was sold during the year resulting in a $12,00 gain. Depreciation expense recorded on the equipment during the year was $67,000. Which of the following is incorrect with respect to preparation of the statement of cash flows? Assume that the equipment purchase and sale resulted in cash flows. What is the answer? a $34,200 cash inflow is reported from the equipment sale. or Using the indirect method net income is decreased by $ 12,000 gain on the sale of equipment or Using the indirect method net income is increased by the $67,100 depreciation expense or A $64,900 cash inflow is reported from the equipment sale.