Due to concerns with climate change resulting from rising levels of carbon dioxide and other greenhouse gases, many companies and organizations have been seeking alternative energy sources (i.e., other than from burning hydrocarbons). To encourage the development of green technology in the manufacturing sector, the Ontario government introduced significant incentives for companies to engage in research, development, and production of equipment that produces power from alternative sources. Click the icon to view more information.) Required Requirement a. Prepare three schedules, one each for plant, equipment, and intangible assets, showing the year-end cost, accumulated depreciation / amortization, and net carrying value covering the period from 2011 to 2020. Begin with the schedule for plant for the periods of the grant. (Enter all amounts in millions, and round to two decimal places. For periods where there is no depreciation calculated, please enter "0" in the cells. Round your answers to the nearest two decimal places.) PLANT Gross Cost after Accum. Net carrying Year Depreciation cost subsidy depr value 2011 0 0 0 0 0 2012 0 0 0 0 0 2013 0 0 2014 2015 2016 2017 2018 2019 2020: Repayment of subsidy 2020: Cumulative effect 2020: Subtotal 2020: Annual depreciation 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 The subsidies amount to 60% of research and development costs and 20% of production costs for the alternative power generators. Qualifying production costs include materials and labour, as well as capital costs required for facilities and equipment that are dedicated to the manufacture of the new alternative power generators. Production costs that do not meet this criterion do not qualify for the subsidy. Furthermore, a recipient of subsidies on capital costs can only retain the portion that is proportional to the length of time the plant or equipment is used for qualifying production; the remainder must be repaid to the government. National Solar Inc. is a company that specializes in the production of equipment that captures solar energy. In response to the government incentives, the company spent $35 million on research in 2011 and a further $30 million in 2012 on developing a new solar technology. Out of the $30 million, the company had determined that $10 million satisfies the six criteria for the capitalization of development costs. In 2013, the company built a plant to produce the new power generators at a cost of $180 million and installed production equipment at a cost of $70 million. Production of the new power generators began in early 2014. The company expected the plant to be operational for 20 years and the manufacturing equipment to last 10 years, after which they would be replaced. The company expects the technology it has developed to remain competitive for 20 years. (All dollar amounts just presented do not include the effect of any government subsidies.) Initially, demand for the new generators was modest, but picked up by 2016. However, by 2018, demand began to drop off drastically due to competition from other technologies. The government subsidy program was so successful that a number of different solar, wind, tidal, and other power generation technologies had developed and were economical. By early 2020, National Solar determined that it could no longer produce its solar power generators profitably and converted the plant to manufacture other products. As a result, it wrote off the balance of the development costs. National Solar has a December 31 fiscal year-end and uses the straight-line method to depreciate/amortize its plant, equipment, and intangible assets, with a full year of depreciation/amortization in the year of acquisition. The company uses the net method to record government subsidies. Due to concerns with climate change resulting from rising levels of carbon dioxide and other greenhouse gases, many companies and organizations have been seeking alternative energy sources (i.e., other than from burning hydrocarbons). To encourage the development of green technology in the manufacturing sector, the Ontario government introduced significant incentives for companies to engage in research, development, and production of equipment that produces power from alternative sources. Click the icon to view more information.) Required Requirement a. Prepare three schedules, one each for plant, equipment, and intangible assets, showing the year-end cost, accumulated depreciation / amortization, and net carrying value covering the period from 2011 to 2020. Begin with the schedule for plant for the periods of the grant. (Enter all amounts in millions, and round to two decimal places. For periods where there is no depreciation calculated, please enter "0" in the cells. Round your answers to the nearest two decimal places.) PLANT Gross Cost after Accum. Net carrying Year Depreciation cost subsidy depr value 2011 0 0 0 0 0 2012 0 0 0 0 0 2013 0 0 2014 2015 2016 2017 2018 2019 2020: Repayment of subsidy 2020: Cumulative effect 2020: Subtotal 2020: Annual depreciation 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 The subsidies amount to 60% of research and development costs and 20% of production costs for the alternative power generators. Qualifying production costs include materials and labour, as well as capital costs required for facilities and equipment that are dedicated to the manufacture of the new alternative power generators. Production costs that do not meet this criterion do not qualify for the subsidy. Furthermore, a recipient of subsidies on capital costs can only retain the portion that is proportional to the length of time the plant or equipment is used for qualifying production; the remainder must be repaid to the government. National Solar Inc. is a company that specializes in the production of equipment that captures solar energy. In response to the government incentives, the company spent $35 million on research in 2011 and a further $30 million in 2012 on developing a new solar technology. Out of the $30 million, the company had determined that $10 million satisfies the six criteria for the capitalization of development costs. In 2013, the company built a plant to produce the new power generators at a cost of $180 million and installed production equipment at a cost of $70 million. Production of the new power generators began in early 2014. The company expected the plant to be operational for 20 years and the manufacturing equipment to last 10 years, after which they would be replaced. The company expects the technology it has developed to remain competitive for 20 years. (All dollar amounts just presented do not include the effect of any government subsidies.) Initially, demand for the new generators was modest, but picked up by 2016. However, by 2018, demand began to drop off drastically due to competition from other technologies. The government subsidy program was so successful that a number of different solar, wind, tidal, and other power generation technologies had developed and were economical. By early 2020, National Solar determined that it could no longer produce its solar power generators profitably and converted the plant to manufacture other products. As a result, it wrote off the balance of the development costs. National Solar has a December 31 fiscal year-end and uses the straight-line method to depreciate/amortize its plant, equipment, and intangible assets, with a full year of depreciation/amortization in the year of acquisition. The company uses the net method to record government subsidies