In the fiscal year ending October 30, 2022, John Deere recognized $88 million in impairment charges related to Property, Plant, and Equipment (PP\&E). Furthermore, John Deere recorded proceeds from the sale of PP&E worth $52.3 million. Ignore any income tax effects. 9. You are an investor and believe that John Deere assumes a salvage value for its fixed assets that is far higher than many of its competitors. To compare John Deere with its competitors, you would like to adjust the financial statements to reflect a lower salvage value (but will keep the useful life the same). How would this change in the depreciation assumption affect the following items on John Deere's financial statements? Please assume that John Deere was still in possession of these assets on October 30,2022 . Circle the correct answer. If Insufficient Information, explain. (2 points) Total Assets on October 30, 2022? Insufficient Higher Lower No Effect Information (2 points) Net Income for fiscal year ending October 30, 2022? Insufficient Higher Lower No Effect Information