Required information The following information applies to the questions displayed below.) Solich Sandwich Shop had the following long-term asset balances as of January 1, 2024: Cost Accumulated Depreciation Book Value Land Building $95,000 $95,000 460,000 $(165,600) 294,400 Equipment Patent 235,000 (50,000) 185,000 250,000 (100,000) 150,000 Solich purchased all the assets at the beginning of 2022 The building is depreciated over a 10-year service life using the double-declining-balance method and estimating no residual value. The equipment is depreciated over a nine-year service life using the straight-line method with an estimated residual value of $10,000. The patent is estimated to have a five-year useful life with no residual value and is amortized using the straight-line method. Depreciation and amortization have been recorded for 2022 and 2023 (first two years). 3. Calculate the book value for each of the four long-term assets at December 31, 2024 SOLICH SANDWICH SHOP December 31, 2024 Rank us Q Search (0) 2 # 3 SA $ 4 % do 8 ^ 5 Ty 4- 6 & 7 8 00 104 6 W E R T Y U 1 SDF G H J K value of $10,000. The patent is estimated to have a five-year useful life with no residual value and is an method. .Depreciation and amortization have been recorded for 2022 and 2023 (first two year 3. Calculate the book value for each of the four long-term assets at December 31, 2024. Land SOLICH SANDWICH SHOP December 31, 2024 Building Equipment Patent $ Book value ? 1 G 2 3 St $ 4 69 % 5 CO 6 47 7