PROBLEM #2 BB Company's depreciation policy on machinery and equipment is as follows: A full year's depreciation is taken in the year of an asset's acquisition. NO depreciation is taken in the year of an asset's disposition. The estimated useful life is five years. The straight-line method is used. On June 30,2019, BB Company sold for P2,300,000 a machine acquired in 2016 tior P4,200,000. The estimated residual value was P600,000. REQUIRED: 1. What is the carrying amount of the machine as of June 30, 2019? 2. What amount of gain or loss on disposal should BB Company record in 2019? Specify your