1. Erin's Excavation purchased a bulldozer on May 31, 2019 for $265,000. Erin's Excavation estimates that they can sell the machine for $22,500 when they are done using it in 10 years. What is the net book value of the bulldozer in the December 31, 2019 balance sheet? a. $242,500 b. $250,854 c. $240,750 d. $249,542 2. Refer to the Erin's Excavation problem in #1 above. How much depreciation expense will be shown in the income statement for the year ended December 31, 2020? a. $24,250 b. $38,396 c. $14,146 d. $22,500 3. On July 1, 2019, Big City Bank purchased a new, high-tech copier. The copier cost $4,100 and they incurred the following expenses related to it: shipping fees of $150, sales tax of $335, maintenance costs during 2019 of $175, and installation costs of $220. If the copier has an estimated life of 5 years and no salvage value, then how much accumulated depreciation will be shown on the December 31, 2020 balance sheet? a. $1,230 b. $481 c. $961 d. $1,442 a. 4. On which financial statement are capitalized expenditures included? Income Statement b. Statement of Stockholders' Equity C. Balance Sheet d. Statement of Cash Flows