(The following information applies to the questions displayed below.) The balance sheets of Tully Corp. showed the following at December 31, 2017, and 2016: December 31, 2017 December 31, 2016 Equipment, less accumulated depreciation of $86,600 at December 31, 2017, and $54,125 at December 31, 2016. $ 64,200 $ 96,675 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 2017? Depreciation expense Assume the same facts as in part a, and assume that the estimated useful life of the equipment is four years and the estimated salvage value is $20,900. b-1. What was the original cost of the equipment? Original cost C-1. Assume that the equipment is sold on December 31, 2017, for $51,800. Prepare the horizontal model for sale of the equipment. (Use amounts with + for increases and amounts with - for decreases.) Balance Sheet Liabilities Income Statement Revenues Assets + Stockholders' Equity Net Income Expenses + + + C-2. Assume that the equipment is sold on December 31, 2017, for $51,800. Record the journal entry for sale of the equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the sale of the equipment. Note: Enter debits before credits. General Journal Debit Credit Event 1 Record entry Clear entry View general Journal