Instructions The following information relates to the assets of Westfield Semiconductors as of December 31, 2019. Westfield uses the straight-line method for depreciation and amortization. Asset Acquisition Cost Expected Life Residual Value Time Used $104,300 Infinite $100,000 10 years Land Building 430,000 25 years 30,000 10 years Machine 10,000 285,000 5 years 2 years years 80,000 10 years Patent 0 100,000 miles Truck 21,000 3,000 44,000 miles Balance Sheet Shaded cells have Accounts, Labels and Amount Descriptions feedback Accounts Prepare the property, plant, and equipment and intangible assets portions of a classified balance sheet for Accumulated Depreciation-Building Westfield Accumulated Depreciation-Machine Accumulated Depreciation-Truck Building Balance Sheet Instructions Land Machine Patent, net of amortization Score: 76/108 Westfield Semiconductors Truck Classified Balance Sheet (partial) Labels December 31, 2019 December 31, 2019 Property, plant, and equipment: 1 For the year ended December 31 $104,300.00 2 Land 2019 $430,000.00 3 Building Intangible assets Property, plant, and equipment Amount Descriptions Less: Accumulated Depreciation-Building 160,000.00 4 $285,000.00 5 Machine Total property, plant, and equipment Less: Accumulated Depreciation-Machine 110,000.00 6 $21,000.00 7 Truck Less: Accumulated Depreciation-Truck 8 Total property, plant, and equipment 9 10 Intangible assets: Patent, net of amortization 11 Points: 16.89/24 Feedback Check My Work Be sure to list the company name, statement title, and date. Show only the property, plant, and equipment and intangible asset classifications