Account for depreciation expense and prepare financial statements. (LO 3, 4) Southeast Pest Control Inc. was started when its owners invested \(\$ 20,000\) in the business in exchange for common stock on January 1,2006 . The cash received by the company was immediately used to purchase a \(\$ 15,000\) heavy-duty chemical truck, which had no residual value and an expected useful life of 5 years. The company earned \(\$ 13,000\) of cash revenue during 2006 . Prepare an income statement, statement of changes in shareholders' equity, and statement of cash flows for the year ended December 31, 2006, and a balance sheet at December 31, 2006.