Victor Minell, the new controller of Sheridan Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017. Here are his findings: Type of Date Acquired Asset Cost Useful Life in Accumulated years) Salvage Value Depreciation, Jan 1, 2017 Old Proposed Old Proposed $149.200 40 48 $60,000 $36,800 20,520 25206 ,400 4.200 Building Warehouse Jan 1, 2009 $806,000 Jan 1, 2012 150,500 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) Compute the revised annual depreciation on each asset in 2017. (Round answers to decimal places, s. 125) Building Warehouse Revised annual depreciations List of Accounts Prepare the entry to record depreciation on the building in 2017. (Round answers to decimal places, s. 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.) Debit Credit Account Titles and Explanation List of Accounts