Answer in table format if needed, thanks, I will thumb up for correct and speedy answers, please answer asap.

Problem 6-31A (Algo) Recording continuing expenditures for plant assets LO 6-2, 6-3, 6-7 Morris Inc. recorded the following transactions over the life of a piece of equipment purchased in Yeart 3 Jan. 1, Year Purchased equipment ?o= $15,000 cash. The equipment was estimated to have a ?ive- 1 yeas 112 and 35,750 Dalvage value and was to be depreciated using the straight-line method. Dec. 31, Yeas Recorded depreciation expense ?o= Year 1. 1 Sept. 30, Year Undertook routine repai-a coating 5740. Dec. 31, Yeas Recorded depreciation expanse ?o= Year 2. Jan. 1, Year Made an aduatment coating $2,530 to the equipment. It improved the quality of the 3 Output but did not afect the 114 and walvage value estimates. Dec. 31, Yeas recorded depreciation expense ?o= Yeas 3. June. 1, Yeas Incussed 6392 coat to oil and clean the equipment. Dec. 31, Yeas Recorded depreciation expanse ?o= Year 4. Jan. 1, Yeas Had the equipment completely overhauled at a cost o: $7,290. The overhaul was 3 estimated to extend the total 112e to seven years. The salvage value did not change. Dec. 31, Yeas Recorded depreciation expanse ?o= Year 5. Oct. 1, Year Received and accepted an e- - $15.700 ?o= the equipment. 2 A A Required a. Use a horizontal statements model to show the effects of these transactions on the elements of the financial statements. The first event is recorded as an example. b. Determine the amount of depreciation expense to be reported on the income statements for Years 1 through 5. c. Determine the book value (cost-accumulated depreciation) Morris will report on the balance sheets at the end of Year 1through Year 5. d. Determine the amount of the gain or loss Morris will report on the disposal of the equipment on October 1. Year 6. Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Use a horizontal statements model to show the effects of these transactions on the elements of the financial statements. The first event is recorded as an example. (Use + for increase, - for decrease, and leave the cell blank if the element is not affected. In the Cash Flow column, indicate whether the item is an operating activity (04), an investing activity (14) or a financing activity (FA). If an element was not affected by the transactions, leave the cell blank.) Show less MORRIS INC Horizontal Statements Model Net = Liables + Equity Income Date Assets Statement of Cash Flows IA + - + Jan. 01. Year 1 Dec 31, Year 1 Sept 30 Year 2 Dec 31, Year 2 Jan. 01, Year 3 Dec 31, Year 3 June 01. Year 4 Dec. 31. Year 4 Jan. 01. Year 5 Dec 31, Year 5 Oct. 01. Year 6 Oct. 01. Year 6 OA + IA Morris Inc. recorded the following transactions over the life of a piece of equipment purchased in Yeart Jan. 1, Year Purchased equipment ?o= $15,000 cash. The equipment was estimated to have a five- 1 yeas 111e and $5,750 salvage value and was to be depreciated using the straight-line method. Dec. 31, va recorded depreciation expansa 2-= Year 1. 1 Sept. 30, Year Undertook routine repai-a coating $740. Dec. 31, Yea: Recorded depreciation expense ?o= Yea: 2. Jan. 1, Yeas Made an adfeatment coating 62,530 to the equipment. It improved the quality of the Output But 414 not a??oet the 1126 and salvage value estimates. Dec. 31, Yea Recorded depreciation expense ?o= Yea: 2. 3 June. 1, Year Incurred $398 cost to 011 and clean the equipment. 4 Dec. 31, Year Recorded depreciation expense ?o= Yeas 4. Jan. 1, Yeas Had the equipment completely overhauled at a cost of $7,290. The overhaul was Seatimated to extend the total 119 to even years. The salvage value did not change. Dec. 31, Year Recorded depreciation expense ?o= Yea: 5. 5 Oct. 1, Yeas received and accepted an ole 02 $15,700 ?o= the equipment. Required a. Use a horizontal statements model to show the effects of these transactions on the elements of the financial statements. The first event is recorded as an example, b. Determine the amount of depreciation expense to be reported on the income statements for Years 1 through 5. c. Determine the book value (cost accumulated depreciation) Morris will report on the balance sheets at the end of Year 1 through Year 5. d. Determine the amount of the gain or loss Morris will report on the disposal of the equipment on October 1, Year 6. Complete this question by entering your answers in the tabs below. Required A Required Required Required D Determine the amount of depreciation expense to be reported on the income statements for Years 1 through 5. (Round your answers to nearest dollar amount.) Year Depreciation Expense Year 1 Year 2 Year 3 Year 4 Year 5 Morris Inc. recorded the following transactions over the life of a piece of equipment purchased in Yeart: Jan. 1, Year Purchased equipment ?o= $15,000 cash. The equipment was estimated to have a five- 1 year 1120 and $5,750 salvage value and was to be depreciated using the atraight-line method. Dec. 31, Year Recorded depreciation expense ?o= Yea: 1. 1 Sept. 30, Yea: Undertook routine repai: coating 5740. 2 Dec. 31, Yeas Recorded depreciation expense ?o= Yea: 2. Jan. 1. Yea: Made an adjustment coating $2,530 to the equipment. It improved the quality of the Output but 418 not alleet the 117 and salvage value catamatea. Dec. 31, Year Recorded depreciation expense ?o= Year 3. 3 June. 1, Yeas Incurred $398 coat to 011 and clean the equipment. Dec. 31, Yeas Recorded depreciation expense ?o= Yea: 4. Jan. 1, Yeas Had the equipment completely washauled at a cost of $7,290. The washaul was estimated to extend the total 1120 to seven years. The salvage value did not change. Dec. 31, Yeas Recorded depreciation expense ?o= Year 5. 5 1, Year Received and accepted an o?!= 0 515,700 ?o= the equipment. E Oct. Required a. Use a horizontal statements model to show the effects of these transactions on the elements of the financial statements. The first event is recorded as an example. b. Determine the amount of depreciation expense to be reported on the income statements for Years 1 through 5. 1 c. Determine the book value (cost-accumulated depreciation) Morris will report on the balance sheets at the end of Year 1 through Year 5. d. Determine the amount of the gain or loss Morris will report on the disposal of the equipment on October 1, Year 6. Complete this question by entering your answers in the tabs below. Required A Required B Required Required Determine the book value (cost accumulated depreciation) Morris will report on the balance sheets at the end of Year 1 through Year 5. (Round intermediate calculations and final answers to nearest dollar amount.) Book Value Year Year 1 Year 2 Year 3 Year 4 Year 5 ...