Dryden Enterprises plan to use a van as rental property. The van has a list price of $23,500. Dryden obtained a 10% cash discount from the dealer. The van was delivered FOB shipping point, and Dryden paid an additional $250.00 for transportation costs. Dryden also paid $2,600 for a custom accesory package to increase the van's appeal as a rental vehicle.

Cost of the van computation: List price $23,500.00 Less: Cash Discount ($2,350.00) Plus: Transportation Costs $250.00 Plus: Cost of Customization $2,600.00 Total $24,000.00

Life Cycle Phase 1 Dryden acquired $35,000 cash on January 1, 2013, by issuing common stock. Life Cycle Phase 2 Dryden brought the van on January 1, 2013, using funds from the stock issue. The cost of the van previously computed , was $24,000 cash. Life Cycle Phase 3 Dryden rented the van to customers. The rent revenue is $8,000 cash each year At the end of each year Dryden adjusts its accounts to recognize depreciation expense. Use Straightline method to estimate depreciation. Salvage Value: $4,000 Useful Life: 4 Years D Dryden retired the van from services on January 1,2017 selling it for $4,500 cash.

Fill in the table for: Financial Statement under Units of Production,Financial Statement under Double-declining-balance, and Financial Statement under Straightline depreciation

Income Statement
	2013	2014	2015	2016	2017
Rent Revenue
Depreciation Expense
Operating Income
Gain on sale of van
Net income
Rent Revenue
Balance Sheet
Assets
Cash
Van
Accumulated depreciation
Total Assets
Stockholder's Equity
Common Stock
Retained Earnings
Total Stockholder's Equity
Statement of Cash flows
Operating Activities
Inflow from customers
Investing Activities
Outflow to purchase van
Inflow from sale of van
Financing activities
Inflow from stock issue
Net Change in Cash
Beginning cash balance
Ending cash balance