On January $2,2025,$ Nimble Delivery Service purchased a truck at a cost of $$80,000.$ Before placing the truck in service, Nimble Delivery Service spent $$2,200$ painting it$,$ $$500$ replacing tires, and $$9,300$ overhauling the engine. The truck should remain in service for five years and have a residual value of $$8,000.$ The truck's annual mileage is expected to be $30,000$ miles in each of the first four years and $20,000$ miles in the fifth year$-140,000$ miles in total. In deciding which depreciation method to use, Jordan Lipnik, the general manager, requests a depreciation schedule for each of the depreciation methods $($straight$-$line, units$-$of$-$production, and double$-$declining$-$balance$).$

Read the requirements.

Requirements

Requ

$\backslash$table$[[1.$ Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense,$],[$accumulated depreciation, and asset book value.$],[2.$ Nimble Delivery Service prepares financial statements using the depreciation method that reports the highest net$],[$income in the early years of asset use. Consider the first year that Nimble Delivery Service uses the truck. Identify$],[$the depreciation method that meets the company's objectives.$]]$

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