Yoshi Company completed the following transactions and events involving its delivery trucks.

Year 1 Jan. 1 Paid $22,015 cash plus $1,785 in sales tax for a new delivery truck estimated to have a five-year life and a $2,000 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck.

Year 2 Dec. 31 The trucks estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,700. Recorded annual straight-line depreciation on the truck.

Year 3 Dec. 31 Recorded annual straight-line depreciation on the truck. Dec. 31 Sold the truck for $5,400 cash.

1-b. Calculate book value and gain (loss) for sale of Truck on December 31,

Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. $ 4,360 4,360 Depreciation expense (for Year 1) Depreciation expense (for Year 2) Depreciation expense (for Year 3) Accumulated depreciation 12/31/Year 3 Book value of truck at 12/31/Year 3 Total cost Accumulated depreciation Book value 12/31/Year 3 Loss on sale of truck $ 23,800 3,310