Question $1$: During $2021,$ the iPod department earned sales revenues of $$100,000,$ services revenues of $$75,000$ and had associated expenses of $$150,000.$ As at December $31,2021,$ the iPod department sold all of its assets for $$15,000.$ These assets$$ updated balance sheet values are noted in the table below. Determine the income or loss from discontinued operations, the gain or loss from disposal of the iPod assets and the net income from discontinued operations.

Inventory$-$replacement parts $$6,000$

iPod manufacturing machines $300,000$

Accumulated Depreciation$-$ Computer A $(295,000)$

Diagnostic and repair tools $45,000$

Accumulated Depreciation$-$ Diagnostic and repair tools $(35,000)$