The following is a tabula summary relating to equipment that was purchased for cash by a company on the first day of the current year The equipment was depreciated on a straight-line basis with an estimated useful life of 10 years and a salvage value of $90. Part of the equipment was sold on the last day of the current year for cash proceeds. Use the information in the tabular summary to derive the missing amounts: (a) Purchase of equipment on January 1. What was the cash paid? (b) Depreciation recorded on December 31. What was the depreciation expense? (c) Sale ot part of the equipment on December 31. What was the gain on disposal? of a transaction causes a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced) Assets Liabilities + Cash Equipment Accum. Depr.- Equip. Common Stock Jan. 1 as $1.120 Dec 31 -5103 Dec 31 436 -468 50