As of December 31, 2019, ABC Company owned the tangible fixed assets. These assets were equipment, furniture, and a lorry. To depreciate the equipment and furniture, ABC Company used straight-line method. On the other hand, to depreciate lorry, ABC Company used double-declining balance method. To depreciate these assets, ABC Company used depreciation for fractional years rounded to the nearest whole month. The details of these assets were as follows: Purchase Date Original Cost Residual value Useful life Lorry February 28, 2014 $120,000 $5,000 10 years Equipment March 1, 2017 $42,500 $500 8 years Furniture August 1, 2017 $38,000 $2,000 6 years Assume that the furniture is sold on December 31, 2020 for $19,180. The sale of furniture on December 31, 2020 will result in: