Blossom Snowboarding Company, a public company, purchased equipment on January 10, 2013, for $710,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Blossom uses the straight-line method of depreciation and has a December 31 year end. Blossom tested the equipment for impairment on December 31, 2017, after recording the annual depreciation expense. It was determined that the equipments recoverable amount was $309,000, 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 2013 to 2017 and the carrying amount at December 31, 2017.

		Depreciation Expense	Carrying Amount
2013		$	$
2014		$	$
2015		$	$
2016		$	$
2017		$	$

Record the impairment loss, if any, on December 31, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2017

What will appear on Blossom's 2017 income statement with regard to this equipment?

Blossom Snowboarding Company Income Statement (Partial) For the Year Ended 2017
		$

What will appear on Blossom's 2017 balance sheet with regard to this equipment?

Blossom Snowboarding Company Balance Sheet (Partial)
Assets
		$
Add Less :
		$

Assuming no further impairments or recoveries, calculate the annual depreciation expense for the years 2018 to 2020. (Round depreciation rate to 2 decimal places, e.g. 15.75 and final answers to 0 decimal places, e.g. 5,275.)

		Depreciation Expense
2018		$
2019		$
2020		$