Southgate Inc. was preparing the annual financial statements and, as part of the year-end procedures, assessed the assets and prepared the following alphabetized schedule based on adjusted values at December 31, 2015 Date of Deprec. Residual Accum. Recoverable Asset Purchase Method* Cost Value Useful Life Deprec Amount Equipment May 4/10 Units $76,000 $6,000 10,000 units $7,000 $33,000 Furniture Feb. 27/10 DDB 10,000 2,000 10 yrs 7.270 4,000 Land Nov. 3/10 N/A 81,000 N/A N/A N/A 101,000 Office building Jun. 2/10 SL 60,000 15,000 15 yrs 16.750 47,000 Warehouse Aug. 4/10 SL 147,800 11,000 19 yrs 39,000 110,000 *DDB = Double-declining balance; SL = Straight-line; Units = Units-of-production; N/A = Not applicable a) Record any impairment losses at December 31, 2015. Assume Southgate Inc. has recorded no impairment losses in previous years. General Journal Page Gj1 Effect On Date Account/Explanation F Debit Credit Balance Sheet + = b) Record depreciation for each asset at December 31, 2016. Assume that there was no change in the residual values or useful lives regardless of any impairment losses that might have occurred. The equipment produced 2,000 units during 2016. Please make sure your final answer(s) are accurate to the nearest whole number. General Journal Page Gj1 Effect On Date Account/Explanation F Debit Credit Balance Sheet +