Carlington Corporation bought a machine on June 1, 2013, for $31,800, f.o.b. the place of manufacture. Freight costs were $300, and $500 was spent to install it. The machine's useful life was estimated at 10 years, with a residual value of $1,900, while the machine's physical life was estimated at 11 years, with no residual value. On June 1, 2014, a part that was designed to reduce the machine's operating costs was added to the machine for a cost of $1,980. On June 1, 2017, the company bought a new machine with greater capacity for a cost of $35,000, delivered. A trade-in value was received on the old machine equal to its fair value of $19,000. The cost of removing the old machine from the plant was $75, and the cost of installing the new machine was $1,300. It was estimated that the new machine would have a useful life of 10 years, with a residual value of $4,000. Required: a) Assuming that depreciation is calculated on the straight-line basis, determine the amount of any gain or loss on the disposal of the first machine on June 1, 2017, and the amount of depreciation that should be provided during the company's current fiscal year, which begins on June 1, 2017. The financial statements are prepared under IFRS. b) Prepare the journal entry, under IFRS, to record the trade-in on June 1, 2017. c) How would your answer in (a) change when assuming the financial statements were prepared under ASPE