Assignment 3: Excel Problems At the end of each module, you will apply the modules concepts by completing comprehensive assignments from the textbook. Complete problems P9-28A (p. 517), P10-A-9B (p. 586), and P11-29A (p. 631) in your textbook. Present your analysis of the assigned problems in Excel format. Enter non-numerical responses in the same worksheet using textboxes. By Wednesday, July 27, 2016 deliver your assignment to the M4: Assignment 3 Dropbox. Create the file with the following name: LastnameFirstInitial_M4A3.Excel.xls. Assignment 3 Grading Criteria Maximum Points P9-28A: Preparation of depreciation schedule for each depreciation method showing asset, depreciation expense, accumulate depreciation and asset book value. 15 P10-A-9B: Present value of Plan A 6 Present value of Plan B 6 Plan selected based on least cost 6 P11-29A: Assess the total market value of the common stock. 5 Compute the book value per share of the common stock. 7 Accuracy and timeliness. 5 Total: 50 Question P9-28A (p. 517) Capitalized asset cost and first year depreciation, and identifying depreciation results that meet management objectives. On January 9, 2010, Swifty Delivery Service purchased a truck at a cost of $ 67,000. Before placing the truck in service, Swifty spent$ 2,200 painting it, $ 500 replacing tires, and overhauling the engine. The truck should remain in service for 6 years and have a residual value of $ 14,700. The truck annual mileage is expected to be 15,000 miles in each of the first 4 years and 10,000 miles in each of the nest 2 years, 80,000 miles in total. In deciding which depreciation method to use, Jerry Speers, the general manager requests a depreciation schedule for each of the depreciation methods (straight-line, units of production, and double-declining-balance. Requirements 1) Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. 2) Swifty prepares financial statements using the depreciation method that reports the highest net income in the early years of asset use. For income-tax purposes, the company uses the depreciation method that minimizes income taxes in the early years. Consider the first year that Swifty uses the truck. Identify the depreciation methods that meet the general manager's objectives, assuming the income tax authorities permit the use of any methods. P10-A-9B (p. 586) Calculating present value Axel needs new manufacturing equipment. Two companies can provide similar equipment but under different payment plans: Plan A: MRE offers to let Axel pay $ 55,000 each year for five years. The payments include interest at 12% per year. Plan B: Westernhome will let Axel make a single payment of 425,000 at the end of five years. This payment includes both principal and increase at 12%. Requirements 1) Calculate the present value of plan A. 2) Calculate the present value of plan B. 3) Axel will purchase the equipment that costs the least, as measured by present value. Which equipment should Axel select? Why? (Challenge) P11-29A (p. 631) Analyzing the stockholder's equity section of the balance sheet The balance sheet of Ballcraft, Inc., reported the following: Preferred stock, $6 par, 6% 5,000 shares authorized and issued $ 30,000 Common stock, $4.00 per value, 45,000 shares authorized: 10,000 shares issued... 40,000 Additional paid-in-capital-common 219,000 Total paid-in-capital 289,000 Retained earnings 90,000 Total stockholders' equity $ 379,000 Preferred dividends are arrears for two years, including the current year. On the balance sheet date, the market value of the Ballcraft common stock was $31 per share. Requirements 1) Is the preferred stock cumulative or non-commutative? How can you tell? 2) What is the total paid-in capital of the company? 3) What was the total market value of the common stock? 4) Compare the book value per share of the common stock. Attached is the excel spreadsheets that I have to utilize.