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Click to watch the Concept Clip Fixed Assets video and then answer the questions below. 1. Which industry has the highest percentage of fixed assets to total assets? a. Software b. Food retail c. Heavy industry d. Merchandise retail 2. Which is a characteristic of a fixed asset? a. Short-term and impermanent. b. Only leased, not owned, by the company but used in normal operations. c. Exist physically so they are tangible assets. d. Offered for sale as part of normal operations. 3. Which industry has the lowest percentage of fixed assets to total assets? a. Entertainment b. Social media c. Transportation d. Software Revision of Depreciation Equipment with a cost of $905,800 has an estimated residual value of $89,800, has an estimated eseful life of 20 years, and is deprediated by the straigit- line method. a. Determine the amount of the annual depreciation. b. Determine the book value after B full wears of wse. x c. Assuming that at the start of the year 9 the remaining life is estimated to be 16 years and the residual value is estimated to be tib5,000, determine the deprecietion expense for each of the remaining 16 years x Foweceac T Crack Mr Wros Straight-ine depreciation abocates the oepriciatio cost of tha astet ecually over the eapectod usehal ide. The book value is the firnd asset cost less accumulabed degrociation Fevising depreciation is necessary whan estinabes of residual values andor ulehalives of fond aisets change doe to aknormal wear and tear or obsolescence Fixed Asset Tumover Ratio Financial statement data for years ending December 31 for DePuy Company follow: a. Determine the fixed asset turnover ratio for Year 1 and Year 2. Round your answers to one decimal place. b. Does the change in the fixed asset turnover ratio from Year 1 to Year 2 indicate a favorable or an unfavorable change