Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below. Tory Enterprises pays $250,400 for equipment that will last five years and have a $44,800 salvage value. By using the equipment in its operations for five years, the company expects to earn $89,700 annually, after deducting all expenses except depreciation. Exercise 10-10 Double-declining-balance depreciation LO P1 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. Complete this question by entering your answers in the tabs below. Depreciation Schedule Income Computation Calculate annual depreciation expenses using double-declining balance method. Depreciation for the Period End of Period Beginning Accumulated Year Book Depreciation Annual of Period Rate Depreciation Depreciation Value Book Value Year 1 Year 2 Year 3 Year 4 Year 5 Total $ 0 Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below. Tory Enterprises pays $250,400 for equipment that will last five years and have a $44,800 salvage value. By using the equipment in its operations for five years, the company expects to earn $89,700 annually, after deducting all expenses except depreciation. Exercise 10-10 Double-declining-balance depreciation LO P1 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. 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 for each year and for the total five-year period, assuming double-declining-balance depreciation. (Net loss should be entered with a minus sign.) Depreciation Net (Pretax) Depreciation Expense Income (Loss) Income Before Year 1 Year 2 Year 3 Year 4 Year 5 Totals $ 0 $ 0 $