Solich Sandwich Shop had the following long-term asset balances as of December 31, 2018:

	Cost	Accumulated Depreciation		Book Value
Land	$ 77,000			$ 77,000
Building	442,000	$(83,980	)	358,020
Equipment	245,000	(46,400	)	198,600
Patent	160,000	(64,000	)	96,000

Solich purchased all the assets at the beginning of 2016 (3 years ago). 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 $13,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight-line method. Depreciation and amortization have been recorded for 2016 and 2017.

1. Calculate the book value for each of the four long-term assets at December 31, 2018.

SOLICH SANDWICH SHOP December 31, 2018 Book value 77,000 Land Building Equipment Patent