Jasmine Corporation has a December 31 fiscal year-end. The following table shows the adjusted trial balance at December 31, 2019.

Adjusted Trial Balance

December 31, 2019

	Debit	Credit
Cash	25,000
Inventory	40,000
Accounts receivable	8,000
Prepaid insurance expenses	7,000
Note receivable	50,000
Accrued interest revenues	9,000
Land	125,000
Buildings	352,000
Equipment	118,000
Trademarks	90,050
Accumulated depreciation buildings		88,000
Accumulated depreciation equipment		29,250
Accrued salary expenses		60,000
Unearned revenue		30,000
Dividend payable		20,050
Note payable due in 4 years		125,000
Common shares		350,000
Retained earnings		130,250
Sales revenues		420,050
Interest revenues		19,750
Operating expenses	422,600
Interest expense	3,400
Income tax expense	2,250
Dividend declared	20,050
Total	$1,272,350	$1,272,350

21. There is only one piece of equipment that was purchased on January 1, 2018, with the estimated useful life of 8 years beginning on the initial purchase date. The company strictly follows the historical cost principle in determining the book value of Equipment that should be reported at the fiscal year-end date. Assume that the company uses the straight-line depreciation method for Equipment. Also assume that the companys entire equipment is sold for $90,000 cash on December 31, 2020. What is the dollar amount of the gain that must be recognized on the income statement with respect to the sale of the equipment?

For your answer, make sure to put the number without dollar signs ($), commas (,), periods (.), and decimal points. Again, please state the number only without dollar signs, commas, periods, and decimal points for your answer. For example, if the answer happens to be 12345, then you must simply put 12345