A1,2

Required information (The following information applies to the questions displayed below.] Three different companies each purchased trucks on January 1 Year 1 for $50,000. Each truck was expected to last four years or 200,000 miles. Salvage value was estimated to be $5,000. All three trucks were driven 66,000 miles In Year 1. 42,000 miles in Year 2. 40,000 miles in Year 3, and 60,000 miles in Year 4. Each of the three companies earned $40,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double- declining balance depreciation, and company Cuses units of production depreciation 23:27 Answer each of the following questions. Ignore the effects of income taxes. Required a-1. Calculate the net income for Year 1. a-2. Which company will report the highest amount of net income for Year 1? Complete this question by entering your answers in the tabs below. aces Required A1 Required A2 Calculate the net income for Year 1. (Round your "Per Unit Cost" to 3 decimal places.) Net Income Company A Company B Company C Required At Required A2 > Required information The following information applies to the questions displayed below. Three different companies each purchased trucks on January 1. Year 1. for $50,000. Each truck was expected to last four years or 200,000 miles. Salvage value was estimated to be $5,000. All three trucks were driven 66,000 miles in Year 1, 42,000 miles in Year 2, 40,000 miles in Year 3, and 60,000 miles in Year 4. Each of the three companies earned $40,000 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. Required a-1. Calculate the net income for Year 1. a-2. Which company will report the highest amount of net income for Year 1? Complete this question by entering your answers in the tabs below. Required A1 Required A2 Which company will report the highest amount of net income for Year 1? Which company will report the highest amount of net income for Year 1?