On December 31, 2020, Listach Inc. sold a used industrial crane for $600,000 cash. The original cost of the crane was $5.0 million and its accumulated depreciation equaled $4.2 million on December 31, 2020. What is the gain or loss from the December 31, 2020 equipment sale? Group of answer choices A)$800,000 gain B)$800,000 loss C)$200,000 loss D)$200,000 gain E)None of the above

Q: Want Answer please provide with correct option

A:

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.