1. On 31 May 2020 a photocopying machine with a cost of $12 000 has accumulated depreciation written off of $10 000. If the machine is sold for $1 500 on 1 June 2020 what will be the net effect of the sale on the income statement?

   	a.	$500 loss.
   	b.	$500 profit.
   	c.	$1 500 loss.
   	d.	$1 500 profit.
   	e.	none of the above.