The following information applies to the questions displayed below. New Morning Bakery is in the process of closing its operations. It sold its two-year-old estimated service life of 10 years, and an estimated residual value of $52.000. New Morning Bakery uses the straight-line depreciation method for all equipment ovens to Great Harvest Bakery for $620,000. The ovens originally cost $822,000, had an Required information Required: culate the balance in the accumulated depreciation account at the end of the second year $ 154,000 19 2. Calculate the book value of the ovens at the end of the second year Book value References eBook & Resources 20. 3. What is the gain or loss on the sale of the ovens at the end of the second year? 21. Record the sale of the ovens at the end of the second year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account fiel No No T