the last question is also the old elevator shoot's out shouldn't be replaced ?

i just can't figure out the less: loss on old elevator

thank you

Question 4 of 5 At the beginning of last year 2021 Richter Condos installed a mechanired elevator for its tenants. The owner of the company, Ron Richter,recently returned from an industry equipment exhibition where he watched a computerized elevator demonstrated. He was impressed with the elevator's speed, comfort of ride, and cost efficiency. Upon returning from the exhibition he asked his purchasing agent to collect price and operating cost data on the new elevator In addition, he asked the company's accountant to provide him with cost data on the company's elevator. This information is presented here. Old Elevator $103.000 New Elevator $161.000 Purchase price Estimated salvage value 0 0 Estimated useful life 5 years 4 years Straight-line Straight-line Depreciation method Annual operating costs other than depreciation Variable $34,100 $11,000 Fled 23.100 8.500 Question 4 of 5 > 8.13/13 Depreciation method Straight-line Straight-line Annual operating costs other than depreciation: Variable $34,100 $11.000 Fixed 23,100 8,500 Annual revenues are $240,000, and selling and administrative expenses are $29.000, regardless of which elevator is used. If the old elevator is replaced now, at the beginning of 2022. Richter Condos will be able to sell it for $24.700. a (a) (b) Your answer is partially correct. Prepare a 4-year summarized income statement for each of the following assumptions: (1) The old elevator is retained. Retain Old Elevator Revenues S 960.000 Less costs: Variable costs 136,400 i Fixed costs 92.400 i 100% 68F here to search 1 Revenues 960.000 Less costs: Variable costs $ 136,400 Fixed costs 92.400 i Selling & administrative 116,000 Depreciation 82.400 -427.200 i 22 Net income $ 532,800 (2) The old elevator is replaced. He ervator Revenues $ 960,000 Less costs: Variable costs 44,000 i Fixed costs 34,000 Selling & administrative 116,000 i Depreciation 161,000 -355.000 Operating income 605,000 Less: Loss on old elevator 24,700 1000 689 LESS COSTS Variable costs 44,000 Fixed costs 34,000 i Selling & administrative 116,000 Depreciation 161,000 i -355.000 605,000 Operating income 24.700 Less: Loss on old elevator 629.700 Net income Using incremental analysis, determine if the old elevator should be replaced. In the first two columns, enter costs and expenses as positive amounts, and any amounts received as negative amounts. In the third column, enter net income increases as positive amounts and decreases as negative amounts. Enter negative amounts using either a negative sign preceding the number eg -15 or parentheses es. (151) Retain Old Elevator Replace Old Elevator Net Income Increase (Decrease) $ Variable operating costs $ $ Fixed operating costs New elevator cost Salvage on old elevator Totals $ $ $