The Red Company purchased equipment on June 1, 2020. Assuming the cost of the equipment is 566,000, the residual value is 56,000, a useful life of 5 years and the use of the straight line method. The company's year end is December 31 1) What is depreciation expense at December 31, 202075 2) What is accumulated depreciation at December 31, 203255 3) What is the carrying value of the asset at December 31, 202315 4) What is the carrying value of the asset at January 1, 202475 5) What is depreciation expense at December 31, 202575 You were asked to prepare the jouma entry to record the sale of the above equipment on December 31 2022 ist again or loss if the equpment was sold for $30,000 How much is the gain or loss