look Print Mercury Inc. purchased equipment in 2019 at a cost of $340,000. The equipment was expected to produce 440,000 units over the next five years and have a residual value of $32,000. The equipment was sold for $170,900 part way through 2021. Actual production in each year was: 2019-63,000 units; 2020 100,000 units; 2021-50,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date. Required: 1. Calculate the gain or loss on the sale. 2. Prepare the journal entry to record the sale. ?ming that the equipment was instead sold for $201,900, calculate the gain or loss on the sale. 4. Prepare the journal entry to record the sale in requirement 3. Complete this question by entering your answers in the tabs below. erences Required 1 Required 2 Required 3 Required 41 Calculate the gain or loss on the sale. (Do not round intermediate calculations.) Required 1 Required 2 >