3 (10%) The Sylvester Corporation has fiscal year end on December 31. On May 1, 2017, Sylvester purchased land and a building for $1,000,000 and $2,000,000, respectively. The building has an estimated useful life of 10 years and an estimated residual value of $1,400,000. On September 30, 2021, the company sold both land and building for $1,100,000 and $1,700,000, respectively. Q3.1 Make the journal entry to record depreciation for 2021. Record all transactions necessary for the sale of the asset. Please show your supporting calculations. Q3.2 How should the gain or loss on sale be presented on (i) the statement of cash flows and (ii) the income statement? No calculations needed