Tulip Corporation purchased equipment for $60,000 on January 1, 2017. On December 31, 2019, the equipment was sold for $24,000. Accumulated Depreciation as of December 31, 2019 was $30,000.
Calculate gain or loss on the sale.
A. $6,000 gain
B. $6,000 loss
C. $30,000 loss
D. no gain no loss