Question: Requirement 4 . Suppose in 2 0 2 , Lee Inc. changed the useful life of the building from 2 5 years to 3 0

Requirement 4. Suppose in 202, Lee Inc. changed the useful life of the building from 25 years to 30 years. How will this affect the income statement and balance sheet?
A. If the useful life of the building is changed from 25 years to 30 years, the depreciation expense will be lower and nets income will be higher; on the balance sheet, the carrying amount will be higher.
B. If the useful life of the building is changed from 25 years to 30 years, the depreciation expense will be higher and net income will be lower; on the balance sheet, the carrying amount will be higher.
C. If the useful life of the building is changed from 25 years to 30 years, the depreciation expense will be lower and net income will be lower; on the balance sheet, the carrying amount will be lower.
D. If the useful life of the building is changed from 25 years to 30 years, the depreciation expense will be higher and net income will be higher; on the balance sheet, the carrying amount will be highel
Requirement 4. Suppose in 202, Lee Inc. changed the useful life

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