Kali's Variety purchased equipment for $94,000 on March 1, 2018. The estimated disposal value for the equipment was $25,200 and it was expected to have a useful life of eight (8) years. The financial year-end for Kali's Variety is June 30 and depreciation is calculated on a straight-line basis, with a full year's depreciation in the year of purchase, and no depreciation in the year of sale. Kali's Variety sold the equipment on September 30,2023 for $30,000. Required: (a) Calculate the book value of the equipment at June 30, 2023. (4 marks) (b) Compute the profit/loss on the sale of the equipment. (2 marks) TOTAL 6 MARKS