Braden Walsh 03/17/23 2:00 PM ACC250 Topic 6 Assignment - OL/TO K Question 3, P10-31A (similar to) Part 1 of 5 HW Score: 32.53%, 13.01 of 40 points O Points: 0 of 8 Save On January 2, 2018, On Time Delivery Service purchased a truck at a cost of $62,000. Before placing the truck in service, On Time spent $4,000 painting it, $1,700 replacing tires, and $2,300 overhauling the engine. The truck should remain in service for five years and have a residual value of $5,000. The truck's annual mileage is expected to be 28,000 miles in each of the first four years and 18,000 miles in the fifth year-130,000 miles in total. In deciding which depreciation method to use, Steven Kittridge, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance). Read the requirements. Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Date Asset Cost Depreciable Cost Useful Life Depreciation Accumulated Expense Depreciation Book Value 1-2-2018 12-31-2018 + = 12-31-2019 + = 12-31-2020 + 12-31-2021 + = 12-31-2022