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Assume NGS sold the hydrotherapy tub system for $4,050 at the end of year 3. The following amounts were forecast for year 3: Sales Revenues
Assume NGS sold the hydrotherapy tub system for $4,050 at the end of year 3. The following amounts were forecast for year 3: Sales Revenues $51,000; Cost of Goods Sold $40,000; Other Operating Expenses $5,100; and Interest Expense $1,000. Create an income statement for year 3 for each of the different depreciation methods, ending at Income before Income Tax Expense. (Don't forget to include a loss or gain on disposal for each method.).
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