QUESTION 2 (10 Marks) Foreman Healthcare, a private medical company, completed the following transactions involving an MRI machine. Foreman paid cash for an MRI machine on September 1, 2012, at an installed cost of $132,250. Its useful life was estimated to be six years with a $10,750 residual value. Straight-line depreciation was recorded for the machine for 2012, 2013 and 2014. Foreman has a December 31 year-end on which it records its annual adjusting entries. On March 1, 2015, the machine was sold for $78,000. Required: 1. Calculate the book value of the MRI machine on January 1, 2015. (4 Marks) Show all calculations. 2. Prepare all required entries to record the disposal of the MRI machine at March 1, 2015. (6 Marks) Show all calculations