21 E10-6 Rottino Company purchased a new machine on October 1, 2017, at a cost of $150,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life. Instructions Compute the depreciation expense under the following methods for the year indicated. Straight line for 2017 2 The journal entry the journal entry is .... 31 The income statement for the year ended December 31, 2017: Rottino Company Income Statement For the Year Ended December 31, 2017 $914,000 67.630,0 277.700 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Salaries and Wages Expense Other Operating Expenses Depreciation Expense SU15,200 61,800 22,400 90.0 Insurance Expense Total Operating Expenses Net Income ?balance sheet for the year ended December 31, 2017 Rottino Company Balance Sheet December 31, 2017 Assets 20,000 Property. Plant, and Equipment Land Buildings Less Accum. Depr. -Buildings Equipment $8,700 41,800 29,900 Total Plant Assets Current Assets Cash Accounts Receivable Inventory Total Current Assets Total Assets Liabilities and Owner's Equity Long-term Liabilities Notes Payable Current Liabilities Notes Payable Accounts Payable Interest Payable Salaries and Wages Payable Total Current Liabilities Total Liabilities Owner's Equity Owner's Capital + Profit Total Liabilities and Owner's Equity The income statement for the year ended December 31, :2018 Rottino Company Income Statement For the Year Ended December 31, 2018 $1,000,000 750.000 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Salaries and Wages Expense Other Operating Expenses Depreciation Expense 120.000 61,800 2,400 Insurance Expense Il Total Operating Expenses: Net Income ?balance sheet for the year ended December 31, 2018 Rottino Company Balance Sheet December 31, 2017 Assets 20,000 Property. Plant, and Equipment Land Equipment Less Accum. Deprequ S 10,700 41.800 30,500 Total Plant Assets Current Assets Cash Accounts Receivable Inventory Total Current Assets Total Assets Liabilities and Owner's Equity Long-term Liabilities Notes Payable Current Liabilities Notes Payslide Accounts Payable Interest Payable Salaries and Wages Payable Total Current Liabilities Total Liabilities Owner' Equity Owner's Capital + Profit Total Liabilities and Owner's Equity