over $35$ years, with estimated residual value of $$339,000.$

wer d the requirements.

c$.$ Journalize depreciation on the building for $2021.$

Requirement $2.$ Report Tao's plant assets on the company's balance sheet at December $31,2021.$

Balance Sheet

Plant assets:

Requirement $3.$ What will Tao's income statement for the year ended December $31,2021,$ report for these facts?

Income Statement