The independent cases are listed below that includes all items relevant to operating activities: Case A Case B Case C Sales revenue $ 71,000 $ 61,000 $ 102,000 Cost of goods sold 38,000 29,000 68,200 Depreciation expense 10,600 2,600 26,600 Salaries
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Equipment was acquired on January 1, 2021, for $30,000 with an estimated four-year life and $3,000 residual value. The company uses straight-line depreciation. Record the gain or loss if the equipment was sold on December 31, 2023, for $10,300.
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