Lewis, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Additional information provided by the company includes the following: Equipment costing $104,000 was purchased for cash. Equipment with a net book value of $20,000 was sold for $28,000. Depreciation Expense of $24,000 was recorded during the year. Use the T-account format and evaluate the transactions affecting Property, Plant, and Equipment, net.