For each of the following four scenarios, identify the amount and character of the gain or loss:

Scenario A:

ABC LLC sold a piece of land that it uses in its business for $50,000. ABC LLC bought the land two years ago for $40,500. What is the amount and character of the gain or loss?

Scenario B:

Stanley Corporation sold a machine to a machine dealer for $35,000. Stanley Corporation bought the machine for $40,000 several years ago and has claimed $15,000 of depreciation expense on the machine. What is the amount and character of the gain or loss?

Scenario C:

Sunny Corporation sold equipment that it uses in its business for $85,000. Sunny Corporation bought the equipment two years ago for $70,000 and has claimed $20,000 of depreciation expense. What is the amount and character of the gain or loss?

Scenario D:

Sumner sold equipment that is uses in its business for $20,000. Sumner bought the equipment a few years ago for $60,000 and has claimed $20,000 of depreciation expense. What is the amount and character of the gain or loss?