Moore Furniture Inc. sells retail furniture to the public. Moore recently sold three pieces of property. Use the spreadsheet below to calculate the gain or loss on each of the following dispositions of property, plant, and equipment assets. Place your answer in the space provided. A loss should be indicated by a negative number (enter with a leading minus (-) sign). Note: To use a formula in the spreadsheet, it must be preceded by an equal sign (e.g., =B1+B2).

B12 X 1 Furniture sold 2 Original cost of the furniture Accumulated depreciation on the furniture 4 Fair market value of replacement furniture 5 Sales price of the furniture sold 6 Gain or loss recognized 7 Pickup truck exchanged for a new pickup truck 8 Carrying value of old truck 9 Fair value of old truck 10 Fair value of new truck 11 Cash paid to dealer 12 Gain or loss recognized 13 Equipment destroyed by fire 14 Original cost of equipment 15 Accumulated depreciation 16 Insurance proceeds 17 Cost to replace equipment 18 Gain or loss recognized $13,000 $11,500 $18,000 $1,800 $18,000 $19,000 $25,000 $6,000 $17,500 $3,500 $15,000 $23,000