Un Company sold office equipment with a cost of $43,340 and accumulated depreciation of $39,779 for $5,790. Required a. What is the book value of the asset at the time of sale? b. What is the amount of gain or loss on the disposal? c. How would the sale affect net income (increase, decrease, no effect) and by how much? d. How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect) and by how much? e. How would the event affect the statement of cash flows (inflow, outflow, no effect) and in what section?

by Book value Gain (loss) on sale Net income would Total assets would Effect Section | | | Book value b. Gain (loss) on sale C. Net income would d. Total assets would Effect Section decrease increase no effect by a. Book value Gain (loss) on sale Net income would d. Total assets would e. Effect Section by decrease increase no effect a. Book value b. Gain (loss) on sale c. Net income would d. Total assets would e. Effect fect Section by | Inflow No effect Outflow a. Book value b. Gain (loss) on sale c. Net income would d. Total assets would e. Effect Section by Financing activities Investing activities Operating activities