4) How many financial statements are there? (20pts) Three Two Four Five 5) Horta Mining, LLC purchased a track of land for $1.3 million dollars. It took nine years for Horta Mining, LLC to deplete the land of rock at which time they sold the land for $1.56 million dollars. What is the gain or loss Horta Mining, LLC would recognize on the sale of the land? $260,000 loss $1.56 million gain $260,000 gain $1.3 million loss