The net cash assets were $ 80,000 during the period, the following items increased or decreased this balance 3. 1- $ 230,000 were sold, purchases $ 150,000, evenly throughout the year. 4- 2- Equipment was purchased in the first quarter for $ 11,000. 5- 3- Profits of $ 6,000 were distributed at the end of the year 6- .4 - Equipment cost $ 100,000 and $ 60,000 of accumulated depreciation sold on September 1, 2001 for its book value 7-.5- Selling and administrative expenses of $ 40,000 were incurred equally. During the year 8- 6- The price level index was: 1/1100, first quarter 105, 1/9 115, 31/12120, Avarage 110 

Required:

Preparing a statement of gains or losses on monetary items for the year 2001.