Required information Use the following information for the Exercises below. [The following information applies to...
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Accounting
Required information
Use the following information for the Exercises below.
[The following information applies to the questions displayed below.]
Tory Enterprises pays $258,400 for equipment that will last five years and have a $45,600 salvage value. By using the equipment in its operations for five years, the company expects to earn $90,500 annually, after deducting all expenses except depreciation.
Exercise 10-9 Straight-line depreciation and income effects LO P1
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. (Enter all amounts positive values.)
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| Income Before Depreciation | Depreciation Expense | Net (Pretax) Income |
| Year 1 |
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| Year 2 |
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| Year 3 |
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| Year 4 |
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| Year 5 |
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| Totals | $ | $ | $ |
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