Portable Tools Rental Limited incorporated and commenced business on April 1, 2011 and has a December 31 year-end. The company rents portable tools for short terms and the following are its transactions:

REQUIRED

Prepare a schedule showing the effects of these transactions on Class 10 and on the income of the company for the period of years indicated. (Ignore the leap-year effects.)

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2011 2012 2014 2015 100 tools purchased at various times during the year for $950 each 20 tools purchased in June for $1,000 each 30 tools (well-maintained) sold in November for $1,000 each 50 tools sold in February for $700 each Portable Tools Class 10: 30% $95,000 20,000 30,000 35,000