Wildhorse Co. had the following assets on January 1, 2017 Useful Life Item Cost Purchase Date (in years) Salvage Value Machinery $66,740 Jan 1, 2007 10 $0 Forklift 28,200 Jan 1, 2014 0 Truck 31,400 Jan 1, 2012 B 2,824 During 2017, each of the assets was removed from service. The machinery was retired on January 1. The fort was sold on June 30 for $11,200. 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. inter ure to update depreciation for each asset from January 1, 2017 to dispodate) Item Gain or Loss Amount Machinery No gain or Forklift Gain 8,460 Truck LOSS 17,860