On December $31,2024,$ management of Jines Construction committed to a plan for selling an office building and its related equipment. Both are available for immediate sale. The building has a book value of $$810,000$ and a fair value of $$910,000.$ The equipment has a book value of $$260,000$ and a fair value of $$210,000.$

Calculate the amount that each asset will be reported at in the balance sheet and the amount of any gain or loss that will be reported in the income statement for the year ended December $31,2024.$ Management expects to sell both assets in $2025.$

$\backslash$table$[[$Balance Sheet as on December $31,2024],[$Building$],[$Equipment$],[$Income Statement for the Year Ended December $31,2024]]$