Section Four: Koch Company owns equipment that cost $100,000 when purchased on January 1,2007 . It has been depreciated using the straight-line method based on estimated salvage value of $10,000 and an estimated useful life of 5 years. Instructions Calculate the gain/loss for the sale of the equipment in these four independent situations. (a) Sold for $56,000 on January 1, 2010. (b) Sold for $56,000 on May 1,2010. (c) Sold for $22,000 on January 1, 2010