Question of 4. 200 points Reporting a Building under GAAP On March 2020 Sketchy Products completed the construction of its new office building. The company property recorded the building at its storic cost of $4.050.000 At December 2020 count called GAAP depreciation of 2020 to be $150.000 However the president of the company had the building appraised at a value of 55 200 000 The president www.cted the accountant to not record depreciation and recognize 350.000 on the value of the building Select the three answer choices that are correct under GAAP Skenery Products should report the building in to balance sheet at December 2020 at a value of 55.200.000 Sketchy Products should report the building in the balance sheet December 2030 a value of $4.350.000 Sketchy Products should report the building in its balance sheet at December 2000 sta net value of $4.600.000 Sechy Products should report depreciation expense in its 2020 income woment because the value of the building increased Schy Products should report depreciation expense of $60.000 in 2020 income Sketchy Products should report again of 350000 in its 2020 incomment The courtant should demands rive for flowing the president's instructions The accountant should tell the presidents whove and find ebenjob References Check All That Apply Reporting under GAAP Type here to search 96 5 6 & 7 o W E R . Y o . s D F G H K Z X C V . N