Terry Wade, the new controller of Blue Spruce Company, has reviewed the expected usefullives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Accumulated Depreciation Useful life (in Years) Salvage Value Date Old old Proposed Acquired Cost Proposed Jan 1, 2022 Type of Asset 40 50 $115,800 $36,000 $36,600 Building Jan 1, 2016 $808,000 25 20 21,860 4,700 Warehouse 24,640 114,000 Jan. 1. 2017 All assets are depreciated by the straight-line method. Blue Spruce Company uses a calendar year in preparing annual adjusting entries and financial statements. After discussion, management has agreed to accept Terry's proposed changes. (The "Proposed useful life is total life, not remaining life.) (a) Compute the revised annual depreciation on each asset in 2022 Building Warehouse Revised annual depreciation $ (b) Prepare the entry to record depreciation on the building in 2022. (List all debit entries before credit entries Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account ticles and enter for the amounts) Debit Credit Date Account Titles and Explanation Dec. 31