Dr. Boylan bought a new machine for his company Boylans Brainiacs. The machine cost $31,000 with a $1,000 salvage value and a 5-year useful life.

Compute the Depreciation expense on the Income Statement and the related book value on the Balance Sheet for each of the years using the STRAIGHT-LINE DEPRECIATION METHOD (C8-3)

I/S Depreciation Expense B/S Book Value

Year 1 ________________ _________________________

Year 2 ________________ _________________________

Year 3 ________________ _________________________

Year 4 ________________ _________________________

Year 5 ________________ _________________________