Record depreciation of the building.

Record depreciation of the equipment.

Required information [The following information applies to the questions displayed below.] Stevens's Sandwich Shop had the following long-term asset balances as of January 1, 2024: Additional information: - Stevens's purchased all the assets at the beginning of 2022. - The building is depreciated over a 20-year service life using the double-declining-balance method and estimating no residual value. - The equipment is depreciated over a 10-year useful life using the straight-line method with an estimated residual value of $10,000. - The patent is estimated to have a five-year service life with no residual value and is amortized using the straightline method. - Depreciation and amortization have been recorded for 2022 and 2023 (first two years)