Trial balance $($extract$)$ as at $31$ December $2018$

The company depreciates its assets to zero residual value as follows:

Factory $5\%$ per year reducing balance on a yearly basis.

Equipment $10\%$ per year straight$-$line based on the number of months the asset

has been held.

A piece of equipment bought on $1$ April $2015$ for $1,080,000$ was sold on $28$ February $2018$

for $800,000.$ No entries have been made in the books for this disposal.

Required:

Using the explanations provided in Appendix $2,$ answer the following requirements.

For the year ended $31$ December $2018,$ calculate:

Depreciation expense $($IS$)$: Factory and Equipment

Net book value $($SOFP$)$: Factory and Equipment

Gain$/$loss on disposal $($IS$)$: Equipment