ABC Companies presents the following information in its books: Equipment cost $ 400,000 12/31/2020 Market value $ 360,000 The company does not have a balance in the revaluation surplus account As of December 31, 2020, the company will register:

Multiple Choice

a revaluation surplus that will affect the owners' equity status.

An expense (revaluation loss) that will affect the income and expense statement.

A recovery of loss in revaluation that will affect the statement of income and expenses.