Current Attempt in Progress Sunland Company had the following assets on January 1, 2022. Item Useful Life (in years) 10 Machinery Forklift Truck Cost $79,520 33,600 37.408 Purchase Date Jan. 1, 2012 Jan 1, 2019 Jan. 1, 2017 Salvage Value $ 0 0 3,360 5 8 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 Gain or Loss Amount Machinery $ Forklift $ Truck $