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How will this sale affect retained earnings

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Problem - Great Farms Company sold some fully depreciated equipment for $4,100 cash. The equipment had been purchased for $49,600, and the company had estimated the useful life at 8 years and a residual value at $5,600. How will this sale affect Retained Earnings?

A) It will decrease Retained Earnings by $1,500.

B) It will increase Retained Earnings by $4,100.

C) It will decrease Retained Earnings by $44,000.

D) It will have no effect on Retained Earnings.

E) There is not enough information to answer the questions.

Reference no: EM132462365

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