An asset with a book value of $19,000 is sold for $16,000. Which of the following answers would accurately represent the effects of the sale on the financial statements? (Note: The answers show the net effect on the total amount under each category. For example, if cash increased by $100 and Accounts Receivable decreased by $70, a net $30 increase would be shown in the assets column.) 
Definitions:
EOQ
Economic Order Quantity; a model used in inventory management to determine the optimal order size that minimizes total holding costs and ordering costs.
Setup Cost
The expenses incurred in preparing equipment or processes for a production run or the start of an operation.
Holding Cost
The expenses associated with storing inventory over a period of time, including warehousing, insurance, spoilage, and obsolescence costs.
Net Requirements
The total demand for a product minus the quantity already on hand or on order, indicating the actual quantity needed to meet demand.
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