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Use the following information for questions 10 and 11. On January 1, 2018, Edmondton Inc. purchased equipment with a cost of 4,500,000, a useful life of 12 years and no salvage value. The Company uses straight-line depreciation. At December 31, 2018, the company determines that impairment indicators are present. The fair value less cost to sell the asset is estimated to be 3,850,000. The asset's value-in-use is estimated to be 3,500,000. There is no change in the asset's useful life or salvage value. 10. The 2018 income statement will report Loss on Impairment of a. 0. b. 275,000. c. 625,000 d. 650,000. 11. The 2019 (second year) income statement will report depreciation expense for the equipment of a. 320,833. b. 350,000 I C. 375,000. d. 385,000. Internet can contain viruses. Unless you need to edit it's safer to stay in Protected View. Enable Editing because your Office product is inactive. To use for free, sign in and use the Web version Activate Use the following information for questions 12 and 13: Use free at Of For 2019, Hoyle Company reports beginning of the year total assets of 900,000, end of the year total assets of 1,100,000, net sales of 1,250,000, and net income of 250,000. 12. Hoyle's 2019 asset turnover is a. .23 times. Page 4 of 7 I b. .25 times. C. 1.14 times. d. 1.25 times. References Mailings Review View Help Tell me what you want to do net can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing ause your Office product is inactive. To use for free, sign in and use the Web version, Activate Use free at Off b. .25 times. c. 1.14 times. d. 1.25 times. 13.The rate of return on assets for Hoyle in 2015 is a. 20.0%. b. 22.7% C. 25.0%. d. 27.8%