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?

repare a partial depreciation schedule of office equipment for 2019, 2020, and 2021. (Do not round intermediate calculations.)

Year	Depreciation Expense	Accumulated Depreciation	Net Book Value
2019
2020
2021

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. (Do not round intermediate calculations.)

Year	Depreciation Expense	Accumulated Depreciation	Net Book Value
2019
2020
2021

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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1

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