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Equipment was purchased for the cost of $86,590. The equipment was purchased on March 1....

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Accounting

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Equipment was purchased for the cost of $86,590. The equipment was purchased on March 1. The company's fiscal year end is September 30. The equipment is estimated to have a six-year life and a $5,450 residual value. The straight- line depreciation method is used for the asset. 1. Depreciation expense for the current year (nearest dollar without comma, e.g. 15000): 2. Depreciation expense for the next year (nearest dollar without comma, e.g. 15000): 3. 3 Equipment's carrying amount, next year ending balance sheet (nearest dollar without comma, e.g. 15000)

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