3. Sir Francis Blythe is a business operator in Westmoreland. The following data was obtained for the year 2013: Non-current assets Equipment at book value Motor vehicle at book value January 750,000 600,000 December 920,000 740,000 Transactions during the year: i) ii) Equipment with book value of $35,000 was sold for $42,000 New equipment was purchased for $220,000 iii) Motor vehicle with book value of $40,000 was sold for $25,000 iv) New motor vehicle was purchased for $200,000 Required: a) Write up the equipment and motor vehicle accounts for the year, clearly showing the amounts for depreciation b) Write up the equipment and the motor vehicle disposal accounts indicating whether there was a gain or a loss on the sale of each asset