4. Selected balance sheet data for Executive Industries are as follows: Item Equipment Notes Receivable, due June 1, 2024 (remaining proceeds from equipment sale). Loan Payable..... Unearned Rent. Prepaid Prepaid Insurance. Accumulated Depreciation. 12/31/21 12/31/22 250,000 200,000 0 24,500 0 120,000 1,400 600 1,000 1,300 20,000 25,500 Selected data for the fiscal year ended December 31, 2022 is presented below: Interest Revenue Cash received from Fixed Asset sales Collections on accounts receivable. ... Insurance expense.... Depreciation Expense Required: (20 points) $ 1,225 120,000 395,000 4,500 15,000 A) Determine the Gain or Loss on the Sale of Equipment during fiscal 2022. B) Would an adjusting entry related to Unearned Rent likely be reversed? Explain. C) If the adjusting entry for interest omitted the interest expense on the loan taken out during the year. i) What balance sheet accounts would be impacted? ii) Would the accounts identified in C) i) be understated or overstated?