A company purchased a piece of equipment. The company chooses to use double$-$declining balance depreciation rather than straight$-$line depreciation.

Which of the following statements would be true in the first year of the equipment's life? $($Select all that apply.$)$

Assets would be higher using double$-$declining balance depreciation.

Assets would be lower using double$-$declining balance depreciation.

Net income would be higher using double$-$declining balance depreciation.

Net income would be lower using double$-$declining balance depreciation.

Net income would not be impacted.