Below is information relative to an exchange of equipment by Pensacola Inc. Assume the exchange has commercial

Question:

Below is information relative to an exchange of equipment by Pensacola Inc. Assume the exchange has commercial substance. Old Equipment Cash Book Value Fair Value Received Case A $74,900 $81,500 $11,100 Case B $60,900 $54,000 $10,000 In Case B, Pensacola would record a gain/(loss) of: