Delso Company purchased the following on January 1, 20x1: Office equipment at a cost of $54,000 with an estimated useful life to the company of three years and a residual value of $16,200. The company uses the double-declining-balance method of depreciation for the equipment. • Factory equipment at an invoice price of $741,000 plus shipping costs of $36,000. The equipment has an estimated useful life of 105,000 hours and no residual value. The company uses the units-of-production method of depreciation for the equipment. • A patent at a cost of $252,000 with an estimated useful life of 12 years. The company uses the straight-line method of amortization for intangible assets with no residual value. The company's year ends on December 31. Required: 1-a. Prepare a partial depreciation schedule of office equipment for 20x1, 20x2, and 20x3. 1-b. Prepare a partial depreciation schedule of factory equipment. The company used the equipment for 8,600 hours in 20x1, 9,800 hours in 20x2, and 9,500 hours in 20x3. 2. On January 1, 20x4, Sanders altered its corporate strategy dramatically. The company sold the factory equipment for $649,780 in cash. Record the entry related to the sale of the factory equipment. 3. On January 1, 20x4, when the company changed its corporate strategy, the demand for one of its products produced by using the patent was significantly reduced. Its patent had estimated future cash flows of $155,000 and a fair value of $134,000. What would the company report on the income statement (account and amount) regarding the patent on January 1, 20x4? Complete this question by entering your answers in the tabs below. Required la Required 1b On January 1, 20x4, Sanders altered its corporate strategy dramatically. The company sold the factory equipment for $649,780 in cash. Record the entry related to the sale of the factory equipment. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. i View transaction list View journal entry worksheet No 1 Required 2 Transaction Required 3 a General Journal Cash Accumulated depreciation, factory equipment Gain on sale of equipment Factory equipment < < Prev ired 1b of 15 Required 3 > www www www Debit Next > 649,780 Credit X