Required information Problem 7-7A Compute depreciation, amortization, and book value of long-term assets (L07-4, 7-5) [The following information applies to the questions displayed below) Solich Sandwich Shop had the following long-term asset balances as of December 31, 2021 Accumulated Cost Depreciation Book Value Land $ 90, eee $90,000 Building 455,000 $(86,450) 368,550 Equipment 206,000 (49,000) 157,000 Patent 225,000 (90,000) 135,eee Solich purchased all the assets at the beginning of 2019 (3 years ago). The building is depreciated over a 20-year service life using the double-declining balance method and estimating no residual value. The equipment is depreciated over a 8- year useful life using the straight-line method with an estimated residual value of $10,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight line method. Depreciation and amortization have been recorded for 2019 and 2020, Problem 7-7A Part 1 Required: 1. For the year ended December 31, 2021, record depreciation expense for burpings and equipment. Land is not depreciated. If no entry is required for a transaction/event, select "No Journal Entry Required"In the first account field) Journal entry worksheet