Blue Spruce Company and Swifty Company are two companies that are similar in many respects. One difference is that Blue Spruce Company uses the straight-line method and Swifty Company uses the declining-balance method at double the straight-line rate. On January 2, 2020, both companies acquired the depreciable assets shown below. Asset Buildings Equipment Cost $320,000 Salvage Value Useful Life 140,000 $15,000 9,000 40 years 10 years Including the appropriate depreciation charges, annual net income for the companies in the years 2020, 2021, and 2022 and total income for the 3 years were as follows. 2020 2021 2022 Total Blue Spruce Company $80,000 $85,900 $87,500 $253,400 Swifty Company 65,000 78,000 87,000 230,000 At December 31, 2022, the balance sheets of the two companies are similar except that Swifty Company has more cash than Blue Spruce Company, and net property, plant, and equipment are different. Lynda Peace is interested in buying one of the companies. She comes to you for advice. Answer the following. (a) Your answer is incorrect. Determine the annual depreciation recorded by each company during the 3 years Determine the annual depreciation recorded by each company during the 3 years. Blue Spruce Company Swifty Company 2020 7625 $ 27000 2021 $ 7625 $ 22400 2022 $ 7625 $ Determine the total accumulated depreciation recorded by each company during the 3 years. Blue Spruce Company Total Accumulated Depreciation 22875 Swifty Company