Ivanhoe Company had the following assets on January 1, 2022.

Item		Cost		Purchase Date		Useful Life (in years)		Salvage Value
Machinery		$56,800		Jan. 1, 2012		10		$ 0
Forklift		24,000		Jan. 1, 2019		5		0
Truck		26,720		Jan. 1, 2017		8		2,400

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 $9,600. 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		select an option (Gain) or (Loss) or (No gain or loss)		$enter a dollar amount
Forklift		select an option (Gain) or (Loss) or (No gain or loss)		$enter a dollar amount
Truck		select an option (Gain) or (Loss) or (No gain or loss)		$enter a dollar amount

please help me and explain me why,, Thank you