Sheridan's Ltd$.$ has a December $31$ year end. On April $2,2024,$ Sheridan purchased a piece of equipment at a cost of $$238,000.$

Sheridan's management estimated that this piece of equipment would have a useful life of five years and a residual value of $$28,000.$

Sheridan uses the straight$-$line method for depreciating its manufacturing equipment.

If Sheridan sold the piece of equipment on June $30,2026,$ for $$134,500,$ what amount of gain or loss would have to becordeof $$28,000.$ Bob uses the straight line method for depreciating its manufacturing equipment. If bob sold the price of the equipment on June $30$th $2026$ for $$134500,$ what amount of gain or loss would have been recorded?