Problem 2 fixed Asset Theory. Assume that at 1/1/xP Pcompany sells a plece 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 depreclation expense for 19x. 3) What would be the correct affoolldated asset cost at 12/31/x1 4) What would be the corrected accumulated depreclation at 12/31/x2 Please provide the two consolldation Journal entries at 12/31/22