Question 2: (from chapter 26) On 10 Aug 2019, Joblot, a computer software retailer, bought a non-current asset at the cost stated below. The anticipated life of the asset and its estimated residual value when it was purchased are stated below as well. Information on Aug 10th 2019 Purchase Price Anticipated Life Estimated Residual Value or years 99,660 4 years 17,960 Due to unforseen events in the computer industry, the asset was suddenly sold on 10 March 2022 for 45,000. The policy of the company is to provide depreciation in full in the year of purchase and none in the year of sale. That means during the first year, the asset will be depreciated for one full year, and during the last year in which the company sells the asset, no depreciation is recorded. Required: (a) Calculate the charge for depreciation for each of the years using both the straight line method and the reducing balance method (at 33 percent per annum), showing clearly the net book values as at the end of each of the years. (b) Calculate the profit or loss on the disposal of the asset under both of the above methods. (c) Explain what the figures for net book value that are shown in the statement of financial position represent.