Problem 2 Fixed Asset Theory. Assume that at 1/1/x1 P company sells a piece of equipment to S for $900,000. At the time of the sale, the asset was recorded on P's books as follows: The asset has a 3 year remaining life. 1) How much would be the excess depreciation? 2) What would be the correct depreciation expense for 191 3) What would be the correct consolidated asset cost at 12/31/x1 4) What would be the corrected accumulated depreciation at 12/31/2 Please provide the two consolidation journal entries at 12/31/2