assume Dryden Enterprises retires the van from service and sells it on January 1, 2022, forPage 218 $4,500 cash. On this date the van’s book value is $4,000 ($24,000 cost − $20,000 accumulated depreciation). Under these circumstances, Dryden would recognize a $500 gain ($4,500 sales price − $4,000 book value) on the sale.