Practice Exercise 6 Saved 4 Required information [The following information applies to the questions displayed below.) Part 1 of 2 Tory Enterprises pays $256,400 for equipment that will last five years and have a $45,400 salvage value. By using the equipment in its operations for five years, the company expects to earn $90,300 annually, after deducting all expenses except depreciation. 15 points Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total five-year period, assuming straight-line depreciation is used. Print Income Before Depreciation Depreciation Expense Net (Pretax) Income Year 1 Year 2 Year 3 Year 4 Year 5 Totals $ 0 $ 0 $ 0 ! 5 Required information (The following information applies to the questions displayed below.] Part 2 of 2 Tory Enterprises pays $256,400 for equipment that will last five years and have a $45,400 salvage value. By using the equipment in its operations for five years, the company expects to earn $90,300 annually, after deducting all expenses except depreciation. 15 points Calculate annual depreciation expenses using double-declining-balance method. Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total five-year period, assuming double-declining-balance depreciation is used. Print Complete this question by entering your answers in the tabs below. Depreciation Schedule Income Computation Calculate annual depreciation expenses using double-declining-balance method. End of Period Depreciation for the Period Beginning of Depreciation Annual Period Book Rate Value Depreciation Year Accumulated Depreciation Book Value Year 1 Year 2 Year 3 Year 4 Year 5 Total $ 0 DET Chee Income Computation > ractice Exercise 6 Saved ! 5 Required information [The following information applies to the questions displayed below.) Part 2 of 2 Tory Enterprises pays $256,400 for equipment that will last five years and have a $45,40 equipment in its operations for five years, the company expects to earn $90,300 annual except depreciation. 15 points Calculate annual depreciation expenses using double-declining-balance method. Prepare a table showing income before depreciation, depreciation expense, and net (pretax) in five-year period, assuming double-declining-balance depreciation is used. Print Complete this question by entering your answers in the tabs below. Depreciation Schedule Income Computation Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income total five-year period, assuming double-declining-balance depreciation is used. (Net loss should be er sign.) Income Before Depreciation Depreciation Expense Net (Pretax) Income (Loss) Year 1 Year 2 Year 3 Year 4 Year 5 Totals $ 0 $ 0 $ 0