Selected ledger account balances for Business Solutions follow. For Three Months Ended December 31, 2019 For Three Months Ended March 31, 2020 Office equipment $ 7,000 $ 7,000 Accumulated depreciationOffice equipment 350 700 Computer equipment 20,000 20,000 Accumulated depreciationComputer equipment 1,250 2,500 Total revenue 32,134 45,800 Total assets 83,960 120,568

Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year ended December 31, 2020, for Depreciation expenseOffice equipment and for Depreciation expenseComputer equipment (assume use of the straight-line method).

2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2020?

3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2020.