noe Company had the following assets on January 1, 2022. Useful Life (in years) tem Cost Purchase Date Salvage Value $0 10 chinery -klift ack $73,840 31,200 34,736 Jan. 1, 2012 Jan 1, 2019 Jan. 1, 2017 5 o 8 3,120 ing 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June For $12,480. The truck was discarded on December 31. The company uses straight-line depreciation. All depreciation was up to e as of December 31, 2021. mpute the gain or loss for each of the asset disposals that occurred in 2022. (Hint: Be sure to update depreciation for each asset im January 1, 2022, to disposal date.) Amount Item Gain or Loss $ Machinery $ Truck noe Company had the following assets on January 1, 2022. Useful Life (in years) tem Cost Purchase Date Salvage Value $0 10 chinery -klift ack $73,840 31,200 34,736 Jan. 1, 2012 Jan 1, 2019 Jan. 1, 2017 5 o 8 3,120 ing 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June For $12,480. The truck was discarded on December 31. The company uses straight-line depreciation. All depreciation was up to e as of December 31, 2021. mpute the gain or loss for each of the asset disposals that occurred in 2022. (Hint: Be sure to update depreciation for each asset im January 1, 2022, to disposal date.) Amount Item Gain or Loss $ Machinery $ Truck