Question 3 Three-Eyed Raven Ltd. reported the following at December 31, 2016 (in thousands) 2016 2015 From the comparative balance sheet Property and equipment, net $11,150 59,590 Long term notes payable 4.400 3,080 From the statement of cash flows: Depreciation $1.920 Capital expenditures (4130) Proceeds from sale of property and equipment 770 Proceeds from Issuance of long term note payable 1,190 Payment of long term note payable (110) Issuance of common shares 383 1. Determine the following items for Three Eyed Raven Ltd. During 2016: Gain or loss on the sale of property and equipment Amount of long-term debt issued for something other than cash