Question: Albert Corp. bought a machine for $ 10,000 thirteen years ago. It has been depreciated on a straight line basis over a 20 year life

 Albert Corp. bought a machine for $ 10,000 thirteen years ago.

Albert Corp. bought a machine for $ 10,000 thirteen years ago. It has been depreciated on a straight line basis over a 20 year life with no salvage value. The firm just sold the machine for $6,000. How much gain/loss should be reported on the sale. $4,000 loss $2,500 loss No gain or loss should be recorded $2,500 gain $4,000 gain The following items are components of a firm's balance sheet. How much is the firm's working capital (net working capital)

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