ABC Construction Company acquired new machinery for $100,000 on January 1, 2024. The machinery has an estimated useful life of 5 years and a salvage value of $10,000. ABC Construction Company uses the straight-line depreciation method. Requirements: a. Record the acquisition of machinery by ABC Construction Company. b. Calculate the annual depreciation expense. c. Prepare the journal entry to record the depreciation expense for the first year. d. Determine the book value of the machinery at the end of the second year. e. Analyze the impact of depreciation expense on the income statement and balance sheet.