The following transactions and adjusting entries were completed by a paper-packaging company caled Gravure Graphics International during 2015 and 2016. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents 2, 2015 3, 2015 Paid S97,000 cash to purchase storage shed components. Paid S4,000 cash to have the storage shed erected. The storage shed has an estimated life of 10 years and a residual value of 57,000. Paid S43,000 cash to purchase a pickup truck for use in the business. The truck has an estimated useful life of five years and a residual value of $5,000. Paid S700 cash for repairs to the pickup truck. Paid S18,000 cash to purchase patent rights on a new paper bag manufacturing process. January January April 1, 2015 May13, 2015 July 1, 2015 The patent is estimated to have a remaining us eful life of fivey years December 31, 2015 Recorded depreciation and amortization on the pickup truck, storage shed, and June December 31, 2016 Recorded depreciation on the storage shed. Determined that the patent was patent Sold the pickup truck for 537,000 cash. (Record the depreciation on the truck prior to recording its disposal.) 30, 2016 impaired and wrote off its remaining book value (i.e, wrote down the book value to Required: Prepare the journal entries required on each of the above dates. (f no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)