Saturday Company, a consulting firm, has provided below various 12/31st account balances all of which are normal. Saturday purchases all supplies on account from vendor, Quick Supply and performs all consulting services "on account." 12/31/2019 12/31/2020 Account Description Accounts Receivable, net* Supplies Prepaid Advertising Expense Prepaid Insurance Expense Vehicle Equipment Accumulated Depreciation Accounts Payable- Quick Supply Co Dividend Payable Interest Payable Rent Payable Salaries Payable Utilities Payable Note Payable $105,800 9,200 15,450 4,415 190,000 106,000 140,815 8,000 18,000 725 3,000 2,600 1,300 145,000 $85,880 8,700 20,695 7.230 190,000 94,000 188,050 11,000 28,000 0 3,650 3,100 1,800 0 *the Accounts Receivable above is shown net of the allowance account (the allowance for doubtful accounts totaled $9,200 at the end of 2019 and $39,120 at the end of 2020). Below, Saturday has provided the details for the company's income from operations for the twelve months ended 12/31/2020: Consulting Revenue $470,000 Less: Operating Expense: Advertising Expense Bad Debt Expense Depreciation Expense Insurance Expense Miscellaneous Expense Rent Expense Salaries Expense Supplies Expense Travel Expense Utilities Expense Net Income from Operations $22,855 71,920 51,135 6,770 5,500 43,800 100,770 27,500 32,000 20,400 382,650 $87,350 During the twelve months ended December 31, 2020, Saturday made no fixed asset purchases and had only a single fixed asset disposal of equipment. True or False: if the disposed equipment was sold for $12,000 Saturday would report $0 gain or loss on fixed asset disposal