4 5 6 On October 6, 2021, Western Farms Co. traded in an old tractor for a new one, receiving a SXXX trade-in allowance and paying the remaining $XXX in cash. The old tractor cost $XXX, and straight-line depreciation of $XXX had been recorded as of October 6, 2021. Assume the fair value of the new tractor was equal to the trade-in allowance of the old tractor plus the cash paid Trade-in allowance Cash payment Old tractor cost Accumulated depreciation old tractor $56,740 $163.260 $190.480 $105,480 REQUIRED: 10 a. What is the carrying amount of the old tractor on the date of the trade in? b. What amount should be debited to the new Tractor account? + 12 c. What is the gain or loss on the exchange? (show the amount in E12 as positive regardless of whether it is a gain or loss, and in F12 choose "Gain" or "Loss" as appropriate from the dropdown menu IV. d. Record the exchange. Date of trade-in Useful life Company's year end 10/6/2021 5 12/31/2021