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Ivanhoe Company had the following assets on January 1,2022. During 2022, each of the assets was removed from service. The machinery was retired on January

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

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