XYZ Company sold equipment for $20,000 cash. The equipment was originally purchased for $30,000 and had accumulated depreciation of $25,000. Requirements: a. Prepare the journal entry to record the sale of equipment by XYZ Company. b. Determine the gain or loss on the sale of equipment. c. Record the accumulated depreciation. d. Calculate the book value of the equipment at the time of sale. e. Analyze the impact of the sale on the income statement and balance sheet.