Chapter 8: Problem 8-8 Page 401 Problem 8- 8 Capital Expenditures, Depreciation, and Disposal Merton Company purchased a building on January 1, 2007,…

Please answer the following question based on the attached information.3. What amount of gain or loss did Merton record when it sold the building? What amount of gain or loss would have been reported if the pollution control equipment had been expensed in 2008?