AliExpress Facebook Ivanhoe Snowboarding Company, a public company, purchased equipment on January 10, 2017 for $740,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Ivanhoe uses the straight-line method of depreciation and has a December 31 year end. Ivanhoe tested the equipment for impairment on December 31, 2021, after recording the annual depreciation expense. It was determined that the equipment's recoverable amount was $322,000, and that the total estimated useful life would be eight years instead of 10, with a residual value of $10,000 instead of $50,000. Calculate the annual depreciation expense for the years 2017 to 2021 and the carrying amount at December 31, 2021. Depreciation Expense Carrying Amount 2017 $ 2017 NNNN 2020 $ 2021 $ e Textbook and Media Current Attempt in Progress Sunland Company and Culver Company both manufacture school science equipment. The following financial Information is for three years ended December 31 In thousands): Sunland Company 2021 2020 2019 Net sales $558.0 $525.7 $473.0 Profit 21.8 20.8 19.3 Total assets 699.8 6718 601.8 Culver Company Net sales Profit Total assets 2021 2020 2019 $1,751.8 $1,587.8 $1,473.9 96.8 85.8 78.8 1,529.8 1.419.8 1,324.8 (a) Calculate the asset turnover and return on assets ratios for both companies for 2020 and 2021. Round answers to 2 decimal places, s. 52.75 Sunland Company Culver Company Asset turnover 2021 Asset turnover 2020 Return on assets 2021 Return on assets 2020 e Textbook and Media