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Three different companies each purchased trucks on January 1, Year 1, for $90,000. Each truck...

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Accounting

Three different companies each purchased trucks on January 1, Year 1, for $90,000. Each truck was expected to last four years or 250,000 miles. Salvage value was estimated to be $9,000. All three trucks were driven 72,000 miles in Year 1,60,000 miles in Year 2,55,000 miles in Year 3, and 65,000 miles in Year 4. Each of the three companies earned $78,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation.
Answer each of the following questions. Ignore the effects of income taxes.
Calculate the net income for Year 4.

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