A company hasa building that it originally bought for $100,000. As of 9/9/2012, there is $40,000 of accumulated Depreciation on the building. On 9/9/2012, the company sells the building for $50.000 How will this transaction show up on the income statement ?

Loss on sales of building of $10,000

it will not affect the income statement

Gain on sale of Building of $50,000

Loss on sale of building of $50,000

Gain on sale of Building of $10,000