Sandhill Co. had the following assets on January 1, 2017 Item Useful Life (in years) 10 Salvage Value $0 Machinery Forklift Truck Cost $82,360 34,800 38,744 Purchase Date Jan. 1.2007 Jan. 1, 2014 Jan 1, 2012 0 00 UN 3,480 During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $13,920. The truck was discarded on December 31. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2016. Compute the gain or loss for each of the asset disposals that occurred in 2017. (Hint: Be sure to update depreciation for each asset from January 1, 2017. to disposal date.) Item Gain or Loss Amount Machinery No gain or loss $ Forklift Gain $ + Truck No gain or loss $ 4408 e Textbook and Media Assistance Used eTextbook Safor Later Attempts: 1 of 4 used