please help me to solve this problem Assuming the asset in questions 1 and 2 has an increase in fair valueto $5,100,000 in 2022 and that Lucren intends to dispose of the asset (cost ofdisposal is estimated at $20,000), prepare the journal entry (if any) necessary torecord this increase.DebitCredit5.Given the data in question #4, prepare the depreciation expense entry(if any) for the asset at 12/31/21.DebitCreditSelected data for Katan, Inc, at 12/31/21 is as follows:Total assetsTotal liabilitiesNet salesNet income12/31/20$930,900197,100515,70080,70012/31/21$920,100208,600517,40067,200On the next page, compute the following ratios:(a)Asset turnover(b)Return on assets(c)Profit margin on sale

Note: Question 4 mentions references to Questions 1 & 2, but the details of Question 1 &2…

6. Selected data for Katan, Inc. at 12/31/21 is as follows: Total assets Total liabilities Net sales Net income 12/31/20 $930,900 197,100 515,700 80,700 12/31/21 $920,100 208,600 517,400 67,200 On the next page, compute the following ratios: (a) Asset turnover (b) Return on assets (c) Profit margin on sale