Please do not give solution in image format thanku During the period, Sanchez Company soldsome excess equipment at a loss. Thefollowing information was collected fromthe company's accounting records:From the Income StatementDepreciation expenseLoss on sale of equipmentFrom the Balance SheetBeginning equipmentEnding equipmentBeginning accumulated depreciationEnding accumulated depreciation1,0203,20019,90011,0001,9201,830 No new equipment was bought during the period.Required:1. For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received from the sale (Use the equipment and accumulated depreciation T-accounts to infer the book value of the equipment sold)Cost of equipment soldAccumulated depreciation on sold equipmentCash received from sale2. Sanchez Company uses the indirect method for the Operating Activities section of the cash flow statement. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Operating Activities? (Input the amount aspositive value.)would be3. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Investing Activities? (Input the amount as positive value.)The cashofwould be

Equipment is a fixed asset and is considered as an investment for a Company. Any Purchase or sale of…

During the period, Sanchez Company sold some excess equipment at a loss. The following information was collected from the company's accounting records: From the Income Statement Depreciation expense Loss on sale of equipment From the Balance Sheet Beginning equipment Ending equipment Beginning accumulated depreciation Ending accumulated depreciation 1,020 3,200 19,900 11,000 1,920 1,830