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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

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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. 8. On November 1, 2021 (i.e., first day of fiscal year 2022), John Deere acquired a machine under the following terms: List price of machine $82,000, delivery fees $2,000, electrical installation costs $9,000, preproduction testing $5,000,2-year maintenance contract with seller $7,000. John Deere paid the entire $105,000 on December 1, 2021 in cash. John Deere depreciates the asset over 10 years using straight-line depreciation and zero salvage value. Did this transaction increase, decrease or not affect the following financial statement items? If increased/decreased, by how much? ( 2 points) Depreciation expense for the fiscal year ending October 30,2022 ? Increased Decreased No effect InsufficientInformation In If increased/decreased, by how much? $ If insufficient information, explain: ( 2 points) Income before income taxes for the fiscal year ending October 30 , 2022 ? Increased Decreased No effect Insufficient Information If increased/decreased, by how much? S If insufficient information, explain: (2 points) PP\&E net of accumulated depreciation on October 30,2022? Increased Decreased No effect Insufficient Information If increased/decreased, by how much? S If insufficient information, explain

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