Consider each of the following independent situations:
a. GYT Company exchanges a machine that cost $ 4,000 and has accumulated depreciation of $ 2,560 for a similar machine. GYT also receives $ 25 in the exchange. The fair market value of the old asset is $ 750. The fair market value of the new asset is $ 725. There is no commercial substance to the transaction.
b. FST Company exchanges a machine that cost $ 4,000 and has accumulated depreciation of $ 3,560 for a similar machine. FST also receives $ 25 in the exchange. The fair market value of the old asset is $ 750. The fair market value of the new asset is $ 725. There is no commercial substance to the transaction.
c.LKC Company pays $ 250 and exchanges a machine that cost $ 3,000 and has accumulated depreciation of $ 1,900 for a similar machine. The fair market value of the old asset is undeterminable. The fair market value of the new asset is $ 690. The transaction has commercial substance.
d. HRT Company pays $ 250 and exchanges a machine that cost $ 2,000 and has accumulated amortization of $ 1,400 for a similar machine. The fair market value of the old asset is $ 435. The fair market value of the new asset is $ 680. he transaction has commercial substance.
e. AML Company pays $ 500 and exchanges a machine that cost $ 9,000 and has accumulated depreciation of $ 8,400 for a similar machine. The fair market value of the new asset is $ 1,580. The transaction has commercial substance.

Required:
For each situation, determine:
1. The value at which the acquired asset will appear on the company’s statement of financial position.
2. The amount of gain or loss that will be recorded on the company’s statement of comprehensive income.