Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant, and equipment: Land. $730,000 Building! $742.000 Less: Accumulated depreciation. 583.000 159.000 Equipment? 670.000 Less: Accumulated depreciation....... 284,080 385.920 Total property, plant, and equipment..... $1.274.920 The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight line method. Depreciation is based on a lger life, after which it will be demolished and replaced with a new one The equipment was purchased on November 3, 2017, and is depreciated to the nearest whole month using the double declining balance method. The total estimated useful life is 10 years with a residual value of $200,000 Required 1. Calculate and record depreciation for the year just ended April 30, 2021. for both the building and equipment 2. Prepare the property, plant, and equipment section of the balance sheet at April 30, 2021