Questions 8-10 (of 10)> Save&Exit Submit The following information applies to the questions displayed below New Morning Bakery is in the process of closing its operations. It sold its two-yeer-old bakery ovens to Great Harvest Bakery for $700,000. The ovens originally cost $910.000, had an estimated service life of 10 yeers and an est mated residual value of $60,000. New Morning Bakery uses the straight-line deprecietion method for all equipment Required information Required: 1.Calculate the balance in the accumulated depreciation account at the end of the second year 9. Required Information 2. Calculate the book value of the ovens at the end of the second year. eBook & Resources eBook: Account for the disposal of long.term assets 10. Required information . What is the gain or loss on the sale of the ovens at the end of the second year