Account for disposal of an asset. (LO 5)

The Topspin Company sold some old equipment for \(\$ 65,000\). The equipment originally cost \(\$ 100,000\), had an estimated useful life of 10 years, and had no estimated salvage value. It was depreciated for 5 years using the straight-line method. In the year of the sale, what amount of gain or loss, if any, should Topspin Company report on its income statement?