Swann Company sold a delivery truck on April 1, 2019. Swann had acquired the truck on January 1, 2015, for $45,500. At acquisition, Swann had estimated that the truck would have an estimated life of 5 years and a residual value of $6,000. Swann uses the straight-line method of depreciation. At December 31, 2018, the truck had a book value of $13,900. Required: 1. Prepare any necessary journal entries to record the sale of the truck, assuming it sold for: a. $13,325 b. $10,425 2. How should the gain or loss on disposal be reported on the income statement? 3. Assume that Swann uses IFRS and sold the truck for $13,325. In addition, Swann had previously recorded a revaluation surplus related to this