On March 31, 2024, management of Quality Appllances committed to a plan to sell equipment. The equipment was avalable for immediate sale, and an active plan to locate a buyer was initiated. The equipment had been purchased on January 1.2022, for $260,000. The equipment had an estimated six-year-service life and resid using the straight-tine method. Quaity's fiscat yearends on Decembet 31 Required: 1. Calculate the equipment's book value as of March 31, 2024. (Hint Depreciation for 2024 would include up to March 31) 2. By December 31, 2024, the equipment has not been sold, but management expects that it will be sold in 2025 for $150,000. For whot amount is the equipment reported in the December 31, 2024, balance sheet? Complete this question by entering your answers in the tabs below. Calculate the equipment's book value as of March a1, 2024. (Hint: Dopreciation for 2024 would include up to March 31.) By December 31, 2024, the equipment has not been sold, but management expects that it will be sold in 2025 for 5150,000 For what amount is the equipment reported in the December 31,2024 , balance sheet