depreciation amount per document. Read the requirements. Requirements 1. For each of the generally accepted depreciation methods, prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciation, and asset book value. 2. For financial reporting purposes, Healy uses the depreciation method that maximizes reported income in the early years of an asset's use. For income tax purposes, the company uses the depreciation method that minimizes income tax payments in those early years. Consider the first year Healy Co. uses the computer. Identify the depreciation methods that meet Healy's objectives, assuming the income tax authorities permit the use of any of the methods. 3. Net cash provided by operations before income tax is $154,000 for the computer's first year. The company's income tax rate is 35%. For the two depreciation methods identified in requirement 2, compare the net income and net cash provided by operations (cash flow). Show which method gives the net income advantage and which method gives the cash flow advantage