1=https%253A%252F%252Fmdc blackboard.com%252Fwe Saved Mercury Inc. purchased equipment in 2019 at a cost of $383,000. The equipment was expected to produce 490,000 unit next five years and have a residual value of $40,000. The equipment was sold for $199,100 part way through 2021. Actual in each year was: 2019 = 70,000 units: 2020 = 111,000 units: 2021 = 56,000 units. Mercury uses units-of-production deprec all depreciation has been recorded through the disposal date. Required: 1. Calculate the gain or loss on the sale. 2. Prepare the journal entry to record the sale. 3. Assuming that the equipment was instead sold for $235,100, calculate the gain or loss on the sale. 4. Prepare the journal entry to record the sale in requirement 3. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the gain or loss on the sale. (Do not round intermediate calculations.) Requirt Required 2 >