Problem 9-7A Calculating depreciation LO2 Use the following table: Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant and equipment: Building? Less: Accumulated depreciation Equipment Less: Accumulated depreciation Total property, plant and equipment Land $ 650,000 $975,600 715,000 750,000 318,000 260,000 432,000 $1,342,000 The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method, Depreciation is based on a 15-year life, after which it will be demolished and replaced with a new one. 2 The equipment was purchased on November 3, 2017, and is depreciated to the nearest whole month using the double-declin balance method. The total estimated useful life is 10 years with a residual value of $250,000 Required: 1. Calculate and record depreciation for the year just ended April 30, 2021, for both the building and equipment View transaction list Journal entry worksheet 2 Record the depreciation for the building, for the year ended April 30, 2021