3 Kane Biotech was preparing the annual financial statements and, as part of the year-end procedures, assessed the assets and prepared the following alphabetized schedule based on adjusted values at December 31, 2020: (Do not round intermediate calculations. Round final answers to nearest whole dollar.) Asset Equipment Furniture Land Office building Warehouse Date of Purchase May 1/15 Jun. 28/15 Apr. 5/15 Apr. 5/15 Apr. 5/15 Deprec. Method Units DOO N/A SL SL Cost $ 64,000 31,000 184,000 115,000 83,500 Residual Value $ 2,590 3,900 N/A 34,100 29,000 Useful life 8,900 units 8 yrs N/A 15 yrs 20 yrs Accum. Deprec $ 40,710 26,039 N/A 40,100 31,938 Recoverable Amount $ 5,590 5,850 120,800 71,500 64,100 Print DDB -Double-declining-balance; SL - Straight-line: Units Units-of-production: N/A - Not applicable Required: 1. Record any impairment losses at December 31, 2020. Assume Kane Biotech has recorded no impairment losses in previous years. 10 points 2. Record depreciation for each asset at December 31, 2021. Assume that there was no change in the residual values or useful lives regardless of any impairment losses that might have occurred. The equipment produced 2.750 units during 2021 Print View transaction list Journal entry worksheet