China Inn and Midwest Chicken exchanged assets. Midwest Chicken received restaurant equipment and gave dellvery equipment: The falt value and book value of the delivery equipment given were $30 , 700 and $32 , 700 (original cost of $37 , 800 less accumulated depreciation of $5 , 100 ), respectively. To equalize market values of the exchanged assets. Midwest Chicken recelved $7 , 700 in cash from China Inn. Record the gain or loss for Midwest Chicken on the exchange of the equipment. (If no entry is required for a particular tronsoction/event, select "No Journal Entry Required" in the first account field.) .