Ngu owns equipment that cost $95,300 with accumulated depreciation of $65,200

Ngu owns equipment that cost $95,300 with accumulated depreciation of $65,200. Ngu asks $35,450 for the equipment but sells the equipment for $33,300. Compute the amount of gain or loss on the sale.
$3,200 gain.
$3,200 loss.
$5,350 loss.
$5,350 gain.
$2,150 gain.

Gain/Loss on Sale = Cash Received – Book Value
Gain/Loss on Sale = $33,300 − ($95,300 − $65,200); Gain of $3,200