Consider each of the following independent situations:

GYT Co$.$ exchanges a machine that cost $$3,400$ and has accumulated amortization of $$2,160$ for a similar machine. GYT also receives $$20$ in the exchange. The fair market value of the old asset is $$660.$ The fair market value of the new asset is $$640.$ There is no commercial substance to the transaction.

FST Co$.$ exchanges a machine that cost $$3,600$ and has accumulated amortization of $$3,200$ for a similar machine. FST also receives $$20$ in the exchange. The fair market value of the old asset is $$660.$ The fair market value of the new asset is $$640.$ There is no commercial substance to the transaction.

LKC Co$.$ pays $$220$ and exchanges a machine that cost $$2,640$ and has accumulated amortization of $$1,680$ for a similar machine. The fair market value of the old asset is undeterminable. The fair market value of the new asset is $$610.$ The transaction has commercial substance.

HRT Co$.$ pays $$220$ and exchanges a machine that cost $$1,760$ and has accumulated amortization of $$1,240$ for a similar machine. The fair market value of the old asset is $$380.$ The fair market value of the new asset is $$580.$ The transaction has commercial substance.

AML Co$.$ pays $$440$ and exchanges a machine that cost $$8,000$ and has accumulated amortization of $$7,500$ for a similar machine. The fair market value of the new asset is $$1,400.$ The transaction has commercial substance.

Required:

For each situation, determine:

$1.$ The value at which the acquired asset will appear on the company$$s statement of financial position.

$2.$ The amount of gain or loss that will be recorded on the company$$s statement of comprehensive income. $($Indicate if the answer is a gain or a loss. If no gain or loss is recorded, enter $0)$