Show Attempt History Current Attempt in Progress Lindy Weink, the new controller of Sheridan Company, has reviewed the expected useful lives and residual values of selected depreciable assets at December 31, 2024. (Depreciation for 2024 has not been recorded yet) Her findings are as follows: Type of Asset Building Equipment Date Acquired Jan. 1, 2009 Jan. 1.2022 Cost $800,100 125,340 Total Useful Life in Years Current Residual Value Proposed Current Proposed 30 $39,600 4,690 $60,330 3.990 After discussion, management agrees to accept Lindy's proposed changes. All assets are depreciated by the straight-line method Sheridan Company has a December 31 year end. (a) Your Answer Correct Answer Your answer is correct. For each asset, calculate the annual depreciation expense using the original estimated useful life and residual value Building $ Annual depreciation expense 38025 per year Equipment $24.330 per year Your Answer Correct Answer Your answer is correct. For each asset, calculate the annual depreciation expense using the original estimated useful life and residual value. Annual depreciation expense Building Equipment 30.025 per year $24,130 per year Calculate the carrying amount of each asset as at January 1, 2024. Building Equipment $ Carrying amount