QUESTION 19 Entity I incurred various costs regarding its delivery truck which it purchased two years ago. For the cost that follows, indicate the proper treatment of the cost for financial accounting purposes: A rock shattered the windshield so it was replaced at a cost of $600. Capitalized Expensed Ignored QUESTION 20 Entity A has the following Income Statement in millions): Entity A Income Statement For the Year Ended December 31, 2021 Net Sales $160 Cost of Goods Sold 100 Gross Profit 60 Operating Expenses 40 Net Income $ 20 Using vertical analysis, what percentage is assigned to gross profit? 60% O 62.5% 100% O 37.5% QUESTION 21 Depreciation and amortization should only be taken if the company expects to replace the asset. O is a process of asset valuation, not cost allocation. provides for proper matching of expenses with revenues. O results in an accumulation of cash for replacement of the asset