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ques1 ques2! Oriole Technology purchased equipment on January 4, 2019, for $249,910. The equipment had an estimated useful life of years and a residual value
ques1 ques2! Oriole Technology purchased equipment on January 4, 2019, for $249,910. The equipment had an estimated useful life of years and a residual value of $9,110. The company has a December 31 year end and uses straight-line depreciation. On December 31, 2021, the company tests for impairment and determines that the equipment's recoverable amount is $95,560. Calculate the equipment's carrying amount at December 31, 2021 (after recording the annual depreciation). Carrying amount Dec. 31, 2021 Record the impairment loss. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31 (To record impairment loss.) Sage Hill Inc., a fertilizer company based in Alberta, had the following information on its financial statements for the fiscal years ended December 31. All figures are ir millions of dollars. Net sales Profit Total assets 2022 $16,036 725 17,116 2021 $15,775 1,282 15,947 2020 $16,904 1,453 14,370 2019 $15,490 1,465 13,130 Calculate Sage Hill's (1) asset turnover ratio, and (2) return on assets ratio for 2020 through 2022. (Round answers to 2 decimal places, e.g. 52.75.) 2022 2021 2020 Asset turnover ratio times times times Return on assets ratio 9 % 96 Determine from the results obtained in part (a) if Sage Hill's: (1) Asset turnover ratio from 2021 to 2022 (2) Asset turnover ratio from 2020 to 2021. (3) Return on assets ratio from 2021 to 2022
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