Help Required Information Problem 7-7A Compute depreciation, amortization, and book value of long-term assets (L07-4.7-5) {The following information applies to the questions displayed below) Solich Sandwich Shop had the following long-term asset balances as of December 31, 202 Accumulated Cost Depreciation Book Value Land $ 90,000 $ 90,000 Building 455,000 $(86,450) 368,550 Equipment 206,000 (49,000) 157,eee Patent 225, eee (90,000) 135, Solich purchased all the assets at the beginning of 2019 (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 8- year useful life using the straight-line method with an estimated residual value of $10,000. 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 2019 and 2020. Problem 7-7A Part 3 3. Calculate the book value for each of the four long-term assets at December 31, 2021, SOLICH SANDWICH SHOP December 31, 2021 Book value |Land Building Equipment Patent