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Footloose Limited acquired furniture and fittings on 1 July 2020 for $54923. The estimated useful life of the furniture and fittings at acquisition date was

Footloose Limited acquired furniture and fittings on 1 July 2020 for $54923. The estimated useful life of the furniture and fittings at acquisition date was 6 years and the residual value was $0. Footloose Limited uses a straight line method for depreciation calculations. The company sold all the furniture and fittings on 1 January 2022 for $55424. How much is a gain (+) or a loss (-)?

A.

9655

B.

501

C.

18809

D.

14232

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