I need help with part C in last photo, using data from first 2 photos. The correct answers for the red boxes in second photo are: 351,240 and 611,532 (in that order).

Problem 20-4A (Part Level Submission) Last year (2013), Richter Condos installed a mechanized elevator for its tenants. The owner of the company, Ron Richter, recently returned from an industry equipment exhibition where he watched a computerized elevator demonstrated. He was impressed with the elevator's speed comfort of ride, and cost efficiency. Upon returning from the exhibition, he asked his purchasing agent to collect price and operating cost data on the new elevator. In addition, he asked the company's accountant to provide him with cost data on the company's elevator. This information is presented below Purchase price $95,700 $160,696 Estimated salvage value Estimated useful lfe 5 years Annual operating costs other than depreciation: Variable Fixed 34,828 23,261 $ 9,330 8,962 Annual revenues are $240,693, and selling and administrative expenses are $29,344, regardless of which elevator is used. If the old elevator is replaced now, at the beginning of 2014, Richter Condos will be able to sell it for $24,149 Your answer is correct. Determine any gain or loss if the old elevator is replaced 52,411 Click if you would like to Show Work for this question: Open Show Work Attempts: 1 of 3 used Your answer is partially correct. Try again. Prepare a 4-year summarized income statement for each of the following assumptions: (1) The old elevator is retained