Victor Mineli, the new controller of Sunland Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings:

Type of Asset		Date Acquired		Cost		Accumulated Depreciation, Jan. 1, 2022		Useful Life (in years)				Salvage Value
								Old		Proposed		Old		Proposed
Building		Jan. 1, 2014		$779,500		$143,800		40		58		$60,500		$35,200
Warehouse		Jan. 1, 2017		154,500		29,710		25		20		5,950		4,790

All assets are depreciated by the straight-line method. Sunland Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Victors proposed changes. (The Proposed useful life is total life, not remaining life.)

(a) Compute the revised annual depreciation on each asset in 2022. (Round answers to O decimal places, e.g. 125.) Building Warehouse Revised annual depreciation $ $ Prepare the entry to record depreciation on the building in 2022. (Round answers to O decimal places, eg. 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 for the amounts.) Account Titles and Explanation Debit Credit