On July 1, 2022, Sandhill Corp. leased heavy equipment to Teal Mountain Inc. for one year, at $58000 a month. Teal Mountain returned the equipment on June 30, 2023, and the next day, Sandhill Corp. leased this equipment to Blue Ltd. for three years, at $75000 a month. The original cost of the equipment was $3195000. The equipment, which has been continually on lease since July 1, 2020, is being depreciated on a straight-line basis over ten years with no residual value. Assuming that both the lease to Teal Mountain and the lease to Blue are appropriately recorded as operating leases for accounting purposes, how much net income (loss) before income taxes that each company would record as a result of the above facts for the year ended December 31, 2023? Sandhill Teal Mountain Blue $798000 $(348000) $(450000) $478500 $(348000) $(450000) $450000 $(450000) $(348000) $478500 $(348000) $(900000)