You are provided with the following information for a machine that Hind Company purchased on January 1, 2016: 2 Purchase price of machine 3 Salvage value 4 Useful life in years 5 $ $ 102,360 25,590 5 61. Calculate depreciation expense for 2016 (2 points). 7 8 6 10 11 12 13 2. Record the journal entry on December 31, 2016 to show depreciation (2 points). 14 15 16 17 3. On December 31, 2017, Hind Company sold the machine for the following amount: 18 $ 92,124 19 Record the journal entry to show 2017 depreciation (2 points). Record the journal 20 entry to show the sale (4 points). 21 2017 depreciation journal entry: 22 23 24 Sale of machine journal entry: 25 26 27