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Mission Manufacturings depreciation expense for the most recent year was $72,000 and its net income...

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Accounting

Mission Manufacturings depreciation expense for the most recent year was $72,000 and its net income was $424,000. The companys net cash flow from operating activities was $569,600. Other information from Missions financial statements includes a decrease in accounts receivable of $24,000, a $27,200 increase in accounts payable, and a $9,600 decrease in prepaid expenses. The only other activity that occurred for the company this year was the sale of a piece of equipment whose book value was $16,000. How much was the gain or loss on this sale?

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