1. Bennett Berlin's Walls and Flooring sells construction materials. On 1/1/2018, Berlin uses cash to purchase a fork lift for $50,000. The forklift comes from China so Berlin has to pay a 20% tariff, which is whack but also an actual thing that's happening right now. Berlin estimates no salvage value at the end of the fork lift's 15 year expected life. Use Straight-Line method. Also on 1/1/2018, Berlin purchases a patent for $500,000 that has 5 years until expiration. a. Record the JE for the purchase of the machine on 1/1/18: b. Record the JE for the purchase of the patent on 1/1/18: c. Record two separate AJE's to account for depreciation and amortization on 12/31/18: d. On 1/1/19, Berlin sells the patent for $350,000 cash. Record the JE for the transaction: e. On 1/1/19, Berlin decides to alter the depreciation assumptions on the forklift. He anticipates it will only last for 11 years in total but will be worth $6,000 at the end of its life. Record the depreciation on 12/31/19