O Required information Problem 7.7A Compute depreciation, amortization, and book value of long-term assets (L07-4.7.5) The following information applies to the questions displayed below.) Solich Sandwich Shop had the following long-term asset balances as of December 31, 2021 Accumulated Depreciation Land Building Equipment Patent Cost $ 78,000 443,000 198,400 165,000 $(84,170) (46,600) (66.000) Book Value $ 78,000 359,830 151,500 99,000 Solich purchased all the assets at the beginning of 2019 (3 years ago). The building is depreciated over a 20-year service life using the double-declining balance method and estimating no residual value The equipment is depreciated over a 8. year useful life using the straight-line method with an estimated residual value of $12,000. The patent is estimated to have a five year service life with no residual value and is amortized using the straight line method. Depreciation and amortization have been recorded for 2019 and 2020, Problem 7.7A Part 3 3. Calculate the book value for each of the four long term assets at December 31, 2021 SOUCH SANDWICH SHOP December 31, 2021 Book Value L Building Equipment