Ivanhoe Company had the following assets on January 1, 2022 Item Machinery Forklift Truck Cost $56,800 24,000 26.720 Purchase Date Jan 1, 2012 Jan 1, 2019 Jan 1, 2017 Useful Life (in years) 10 5 8 Salvage Value $0 0 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.) Gain or Loss Amount Item Machinery Forklift Truck