Calculating Specific Statement of Cash Flow Effects The comparative balance sheet of the Heavy Metal Gymnasium showed a balance in the Gym Equipment account at December 31, Year 2, of $2, 460,000; at December 31, Year 1, the balance was $2, 400,000. The Accumulated Depreciation account showed a balance of $860,000 at December 31, Year 2, and $760,000 at December 31, Year 1. The statement of cash flows reports that cash outflows for gym equipment during the year amounted to $130,000. The income statement reports depreciation expense of $120,000 for the year and a gain of $5, 300 from the sale of gym equipment in the determination of net income. Required: Calculate the acquisition cost of the equipment sold. Calculate the accumulated depreciation of the equipment sold. Calculate the proceeds from the equipment sold. Present these transaction effects in a partial statement of cash flows