Question 5 of 5 13.67 / 20 View Policies Show Attempt History Current Attempt in Progress Sandhill Snowboarding Company, a public company, purchased equipment on January 10, 2017 for $690,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Sandhill uses the straight-line method of depreciation and has a December 31 year end. Sandhill tested the equipment for impairment on December 31, 2021, after recording the annual depreciation expense. It was determined that the equipment's recoverable amount was $301,000, and that the total estimated useful life would be eight years instead of 10, with a residual value of $10,000 instead of $50,000. Your answer is correct. Calculate the annual depreciation expense for the years 2017 to 2021 and the carrying amount at December 31, 2021. 13.67 / 20 III What will appear on Sandhill's 2021 income statement with regard to this equipment? Sandhill Snowboarding Company Income Statement (Partia For the Year Ended 2021 Depreciation Expense Impairment Loss 69000 e Textbook and Media List of Accounts What will appear on Sandhill's 2021 balance sheet with regard to this equipment? Sandhill Snowboarding Company Balance Sheet (Partial) Assets Equipment $ 690000 Less : Accumulated Depreciation Equipment 69000 $ 621000 e Textbook and Media List of Accounts Assuming no further impairments or recoveries, calculate the annual depreciation expense for the years 2022 to 2024 Pound depreciation rate to 2 decimal places, c.8. 15.75 and final answers to decimal places, e.g. 5,275 Depreciation Expense 2022 $ 203666 2023 $ 203666 2024 $ $ 203666 e Textbook and Media List of Accounts Attempts: 2 of 5 used Submit