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Find the gain or loss on disposal is

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Question 1: On April 1, 2019, Sigma Corporation sells equipment for $45,000. The equipment originally cost $125,000, had an estimated 5-year life and an expected residual value of $15,000. The accumulated depreciation account had a balance of $77,000 on January 1, 2019, using the straight-line method. The gain or loss on disposal is

Option 1: $2,500 loss.

Option 2: $3,000 loss.

Option 3: $3,000 gain.

Option 4: $2,500 gain.

Reference no: EM132505440

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