Required informotion Problem 7.8A (Algo) Record the disposal of equipment (LO7.6) [The following information applies to the questions displayed below) New Morning Bakety is in the process of closing its operations. It sold its two-year-oid bakery ovens to Great Harvest Bakery for $620,000. The ovens originally cost $822,000, had an estimated service life of to years, had an estimated residual value of $52.000, and were depreciated using straight-ine depreciation. Complete the requirements below for New Morning Bakery Problem 7.8A (Algo) Part 1 Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second yeat Required informotion Problem 7.8A (Algo) Record the disposal of equipment (LO7.6) [The following information applies to the questions displayed below] New Moming Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $620.000. The ovens originally cost $822.000, had an estimated service life of to years, had an estimated residual value of $52.000, and were depreciated using straight-ine depreciation. Complete the requirements below for New Morning Bakery. Problem 7-8A (Algo) Part 2 2. Calculate the book value of the ovens at the end of the second year. Required informotion Problem 7.8A (Algo) Record the disposal of equipment (LO7.6) [The following information applies to the questions displayed below] New Moming Bakery is in the process of closing its operations. it sold its two-year-old bakery ovens to Great Harvest Bakery for $620,000. The ovens originally cost $822,000, had an estimated service life of 10 years. had an estimated residual value of $52.000, and were depreciated using straight-line depreciation. Complete the requirements below for New Morning Bakery. Problem 7.8A (Algo) Port 3 3. What is the gain or loss on the sale of the ovens at the end of the second year