New Morning Bakery is in the process of closing its operations. It sold its two$-$year$-$old bakery ovens to Great Harvest Bakery for $$610,000.$ The ovens originally cost $$811,000,$ had an estimated service life of $10$ years, had an estimated residual value of $$51,000,$ and were depreciated using straight$-$line depreciation. Complete the requirements below for New Morning Bakery.

$4.$ Determine the financial statement effects of the sale of the ovens at the end of the second year.