ALL THE DIRECTIONS AND REQUIREMENTS ARE GIVEN ABOVE

Below are details on DuraCorp's long-lived asset accounts as of December 31st 2019: Account (balance) Land ($100,000 DR) Details* Acquired 10-1-17 for $100,000. Not subject to depreciation. Acquired 1-1-18 for $500,000. 10-year useful life & $100,000 salvage value. Facilities ($500,000 DR) Accumulated Depreciation-Facilities ($80,000 CR) Equipment ($220,000 DR) Acquired 7-1-18 for $220,000. 8-year useful life & $20,000 salvage value. Accumulated Depreciation-Equipment ($37,500 CR) Patent ($75,000 DR) Acquired 10-1-18 for $80,000. 20-year useful life & zero salvage value. *Useful lives and salvage values determined on acquisition date. Depreciation/amortization is straight-line. 0 . The following events occurred during the first quarter (Q1) of 2020: Jan 1: Acquired a trademark for $50,000 cash. Feb 1: Sold 60% of existing equipment for $115,000 cash. Feb 15: $20,000 cash was spent repairing elevators and stairwells in the facilities. Mar 1: Purchased new equipment with cash. Specifically, $110,000 cash was paid to the seller, $5,000 cash was paid for transportation, $10,000 cash was paid for installation, and $12,000 cash was paid for one year's insurance protection. The equipment's useful life is estimated to be 5 years with a $5,000 salvage value. Mar 15: Spent $30,000 cash on research and development that is expected to lead to the securing of a new patent in the second half of 2020. Mar 31: Determined that the fair market value of the land is $75,000. Mar 31: Revised the estimated salvage value of the facilities to be $160,000. O Directions: 1. Journalize and post the above transactions and prepare all necessary adjusting entries. 2. Prepare the non-current asset section of DuraCorp's balance sheet as of March 31st, 2020. 3. Below are ratios for Q1 2019 and Q1 2018 : a. Profit margin: 10% (Q1 2019), 12% (Q1 2018) b. Asset turnover: 2x (Q1 2019), 1.5x (Q1 2018) What was DuraCorp's return on assets (ROA) in Q1 2019 and Q1 2020? Speculate on the ways in which DuraCorp's long-lived asset activities contributed to the ROA trend. Below are details on DuraCorp's long-lived asset accounts as of December 31st 2019: Account (balance) Land ($100,000 DR) Details* Acquired 10-1-17 for $100,000. Not subject to depreciation. Acquired 1-1-18 for $500,000. 10-year useful life & $100,000 salvage value. Facilities ($500,000 DR) Accumulated Depreciation-Facilities ($80,000 CR) Equipment ($220,000 DR) Acquired 7-1-18 for $220,000. 8-year useful life & $20,000 salvage value. Accumulated Depreciation-Equipment ($37,500 CR) Patent ($75,000 DR) Acquired 10-1-18 for $80,000. 20-year useful life & zero salvage value. *Useful lives and salvage values determined on acquisition date. Depreciation/amortization is straight-line. 0 . The following events occurred during the first quarter (Q1) of 2020: Jan 1: Acquired a trademark for $50,000 cash. Feb 1: Sold 60% of existing equipment for $115,000 cash. Feb 15: $20,000 cash was spent repairing elevators and stairwells in the facilities. Mar 1: Purchased new equipment with cash. Specifically, $110,000 cash was paid to the seller, $5,000 cash was paid for transportation, $10,000 cash was paid for installation, and $12,000 cash was paid for one year's insurance protection. The equipment's useful life is estimated to be 5 years with a $5,000 salvage value. Mar 15: Spent $30,000 cash on research and development that is expected to lead to the securing of a new patent in the second half of 2020. Mar 31: Determined that the fair market value of the land is $75,000. Mar 31: Revised the estimated salvage value of the facilities to be $160,000. O Directions: 1. Journalize and post the above transactions and prepare all necessary adjusting entries. 2. Prepare the non-current asset section of DuraCorp's balance sheet as of March 31st, 2020. 3. Below are ratios for Q1 2019 and Q1 2018 : a. Profit margin: 10% (Q1 2019), 12% (Q1 2018) b. Asset turnover: 2x (Q1 2019), 1.5x (Q1 2018) What was DuraCorp's return on assets (ROA) in Q1 2019 and Q1 2020? Speculate on the ways in which DuraCorp's long-lived asset activities contributed to the ROA trend