Book Value of Foxed Assets Cannington, Inci, designs, manufactures, and markets personal computers and related abftware, The following information was taken from a recent annual report of Cannington: Property, Plant, and Equipment (in millions): a. Compute the book value of the fixed assets for the current year and the preceding year. A comparison of the book values of the current and preceding years indicates that they increased A comparison of the cotal cost and accumulated depreciation reveals that Cannington purchased during the current year. b. Would you normally expect the book value of fixed assets to increase or decrease during the year? Fecturck Tineck My Wark Consider what happens in business that affects assets and depreciation