How does an asset impairment loss impact a company's financial statements ? It increases expenses and decreases both revenue and net income. It decreases assets, stockholders' equity, and net income. It increases expenses and decreases net income with no effect on any other items. It increases liabilities and decreases stockholders' equity. None of the above Which of the following statements about depreciation methods is not correct? The amount of depreciation expense recorded in each year of an asset's Be depends on the method that is used Different depreciation methods can be used for different classes of assets provided the methods are used consistently over time so that financial statement users can compare results across perlods At the end of an assets life, after it has been fully depreciated the total amount of depreciation will equal the assets depreciable cost The amount of net income reported each year will be the same regardless of the depreciation method used All of the above statements about depreciation methods are correct Your company has set sales revenue of 45 million during the year. At the beginning of the year. Pred assets are $17 maton. At the end of the seat Bed assets are 119 million what is the feed asset tungver 1980? 265 2.50 125 23 None of the above