Required information Use the following information for the Exercises below. (Algo) (The following information applies to the questions displayed below. Tory Enterprises pays $241,400 for equipment that will last five years and have a $43,900 salvage value. By using the equipment in its operations for five years, the company expects to earn $88,800 annually, after deducting all expenses except depreciation. Exercise 8-10 (Algo) 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 is used. 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 Depreciation Value Year Accumulated Depreciation Book Value Year 1 Year 2 Year 3 Year 4 Year 5 Total $ 0 Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) Tory Enterprises pays $241,400 for equipment that will last five years and have a $43,900 salvage value. By using the equipment in its operations for five years, the company expects to earn $88,800 annually, after deducting all expenses except depreciation. Exercise 8-10 (Algo) 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 is used. Complete this question by entering your answers in the tabs below. ation 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 is used. (Net loss should be entered with a minus sign.) Income Before Depreciation Depreciation Expense Net (Pretax) Income (Loss) Year 1 Year 2 Year 3 Year 4 Year 5 Totals $ 0 $ 0 $