Victor Mineli, the new controller of Sheridan Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Useful Life (in years) Salvage Value Type of Asset Date Acquired Accumulated Depreciation, Jan. 1, 2022 Cost Old Proposed Old Proposed Building Jan 1, 2014 Warehouse Jan 1, 2017 $922,000 118,000 $170,400 22,340 40 25 5 8 20 $70,000 ,300 $35,400 2,660 6 All assets are depreciated by the straight-line method. Sheridan Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Victor's proposed changes. (The "Proposed" useful life is total life, not remaining life.) - Your answer is partially correct. Compute the revised annual depreciation on each asset in 2022. (Round answers to O decimal places, e.g. 125.) Building Warehouse Revised annual depreciation $ 17905 6200 e Textbook and Media List of Accounts - Your answer is partially correct. Prepare the entry to record depreciation on the building in 2022. (Round answers to O decimal places, e.g. 125. 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 titles and enter Ofor the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense 17905 Accumulated Depreciation-Buildings Accumulated Depreciation-Buildings C D 17905 7905