11 Part 5 of 5 25 points 00:43:35 The company's year ends on December 31. Required: 1-a. Prepare a partial depreciation schedule of office equipment for 2019, 2020, and 2021. 1-b. Prepare a partial depreciation schedule of factory equipment. The company used the equipment for 8,200 hours in 2019, 9,400 hours in 2020, and 9,100 hours in 2021. 2. On January 1, 2022, Sanders altered its corporate strategy dramatically. The company sold the factory equipment for $695,460 in cash. Record the entry related to the sale of the factory equipment. 3. On January 1, 2022, when the company changed its corporate strategy, its patent had estimated future cash flows of $251,000 and a fair value of $222,000. What would the company report on the income statement (account and amount) regarding the patent on January 1, 2022? Complete this question by entering your answers in the tabs below. Record the entry related to the sale of the factory equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit eBook Req la Req 1b Req 2 Req 3 References Prepare a partial depreciation schedule of office equipment for 2019, 2020, and 2021. (Do not round intermediate calculations.) Year Depreciation Accumulated Depreciatio Expense Depreciation Net Book Value 2019 53.000 2020 2021 Prepare a partial depreciation schedule of factory equipment. The company used the equipment for & 9,400 hours in 2020, and 9,100 hours in 2021. (Do not round intermediate calculations.) Year Depreciation Expense 2019 2020 Accumulated Depreciation Net Book Value 2021 < Req 1a Req 2 > Record entry Clear entry Req 1a Req 1b Req 2 Req 3 View general journal < Req 1b Req 3 > On January 1, 2022, when the company changed its corporate strategy, its patent had estimated future cash flows of $251,000 and a fair value of $222,000. What would the company report on the income statement (account and amount) regarding the patent on January 1, 2022? < Req 2 Req 3 >