9. The Cromwell Company sold equipment for $35,000. The equipment, which originally cost $100,000 and had an estimated useful life of 10 years and no salvage value, was depreciated for five years using the straight-line method. Cromwell should report the following on its income statement in the year of sale: TP A $15,000 loss. A $15,000 gain. A $35,000 gain. None of the above