Question
Seasons, Inc. has the following plant, property, and equipment assets on its balance sheet for 2021 and 2020: ($ thousands) Land Buildings Machinery and
Seasons, Inc. has the following plant, property, and equipment assets on its balance sheet for 2021 and 2020: ($ thousands) Land Buildings Machinery and equipment Less Accumulated depreciation Total 2021 $ 4,200 10,400 6,500 21,100 7,200 $ 13,900 2020 $ 4,000 9,800 6,800 20,600 6,000 $ 14,600 Depreciation expense for 2021 was $1,400. During 2021, Season's Inc., did not make any machinery and equipment purchases and did not sell any buildings. The cash flow from machinery and equipment sales during 2021 was $500. What was Season's gain or loss on machinery and equipment sales during 2021 (enter a gain as a positive number and a loss as a negative numbers)?
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