Sergio Pizza Ltd. has just set up business. The owner has opted for a policy of depreciating equipment at 10% per annum and fixtures at 12.5% per annum using the straight-line method. Depreciation is to be charged on assets in existence at the year-end thus charging a full year's depreciation even though the assets may only have been bought half way through the year. Date 1/1/2019 (Year 1) 10/1/2019 (Year 1) 7/1/2020 (Year 2) 10/1/2020 (Year 2) Transaction Bought equipment for $22,000 and fixtures for $30,000 Bought equipment for $10,000 Purchased fixtures for $5,000 Part of the equipment bought on Jan 1 Year 1 was sold for $5,000 (original cost $8,000) Required: a) Separate asset accounts for equipment and fixtures for both years b) The accumulated depreciation accounts for both years c) d) The disposal of equipment account Extracts from the income statement and the statement of financial position for both years