Current Attempt in Progress Sunland Company had the following assets on January 1, 2022. Useful Life Item Cost Purchase Date (in years) Salvage Value Machinery Forklift $79,520 Jan. 1, 2012 10 $0 Truck 33,600 37,408 Jan. 1, 2019 5 0 Jan. 1, 2017 8 3,360 During 2022, each of the assets was removed from service. The machpery was retired on January 1. The forklift was sold on June 30 for $13,440. The truck was discarded on December 31. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2021. Compute the gain or loss for each of the asset disposals that occurred in 2022. (Hint: Be sure to update depreciation for each asset from January 1, 2022, to disposal date.) Item Machinery Gain or Loss Amount During 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $13,440. The truck was discarded on December 31. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2021. Compute the gain or loss for each of the asset disposals that occurred in 2022. (Hint: Be sure to update depreciation for each asset from January 1, 2022, to disposal date.) Item Machinery Forklift Truck Gain or Loss Touthaalde Amount