A machine with a book value of $38,000 is sold for $32,000. Which of the following answers would accurately represent the effects of the sale on the financial statements? Assets = Liab. + Equity Rev./Gain - Exp./Loss = Net Inc. Cash Flow A. 38,000 = NA + 38,000 38,000 - NA = 38,000 38,000 IA B. (6,000) = NA + (6,000) NA - 6,000 = (6,000) 6,000 OA C. (6,000) = NA + (6,000) NA - 6,000 = (6,000) 6,000 IA D. (6,000) = NA + (6,000) NA - 6,000 = (6,000) 32,000 IA
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