Information for questions 3, 4 and 5 In 2018 the company sold a delivery van for 25,000 in cash. The vehicle was purchased in 2017 for 30,000. The cash received from the sale was paid into the business bank account and credited to disposal proceeds. Depreciation is to be provided on the non-current assets using the following annual rates: Land nil Buildings 1% per year on a straight line basis Delivery vans 20% per year on a reducing balance basis A full year's depreciation is provided in the year of acquisition and no depreciation is provided in the year of disposal. Depreciation charges and profits or losses on asset disposals are allocated 50% to distribution costs and 50% to administrative expenses. Q3. Santa's financial result on disposal of equipment for the year ended 31st December 2018 (in 000 ): A. loss 1 B. profit 1 C. loss 5,8 D. profit 5,8