A) On June 1, 2019, Turner Corporation purchased land, a building, and some equipment for $590,000. The following information is available concerning the property purchased: Market Val 135,000 279,000 186,000 urr Befgce the property could be used, Turner had to spend $20,000 to renovate the building and $12,000 to put the equipment in working order Assume the equipment was assigned an $11,300 salvage value, an 18-year life and was being depreciated using the straight-Line depreciation method On August 31, 2029, Turner Company sold the equipment for $71,000 cash Calculate the amount of the loss recorded on the sale of the equipment B) Towing Company employs a periodic inventory system. At July 1, Towing Company had 2,200 units of inventory on hand, with each unit having a cost of $33 During July, Towing Company recorded the following purchases of inventory July 11 4,100 units purchased at? er unit July 1803 units purchased at $24 per unit July 22 2,900 units purchased at $36 per unit During July, Towing Company sold 6,600 units of inventory to its customers at a selling price of $51 per unit. Using FIFO, Towing Company calculated its gross profit for July to be equal to $105,100 Calculate the dollar amount of ending inventory shown on Towing Company's July 31 balance sheet using the weighted average method C) On January 1, 2018, Happy Company purchased equipment for $125,000 The equipment was assigned a useful life of 15 years and an $8,000 salvage value. Happy Company will use the straight-Line method to depreciate the equipment. On January 1, 2024, Happy Company revised the life of the equipment from 15 to 24 years. On January 1, 2029, Happy Company revised the 1life of the equipment from 24 to 18 years with a salvage value of $2,000 at the end of the 18 years. Calculate the depreciation expense recorded on the equipment for 2029