Fill out white blank "The depreciation method that maximizes reported net income in the first year of the computer's life is the in Requirement 2" Requirement 2. Blano Enterprises, Inc, prepares financial statements using the depreciation method that reports the highest income in the early years of asset use. For income tax purposes the company uses the depreciation method that minimizes income taxes in the early years. Consider the first year Blano Enterprises, Inc., uses the equipment. Identify the depreciation methods that meet Blano Enterprises objectives, assuming the income tax authorities permit the use of any method y method which produces the depreciation for that year. The method that minimizes income taxes in the first year is the The depreciation method that maximizes reported net income in the first year of the computer's life is the double-dedining balance method which produces the highest depreciation amount for that year double-dedining balance straight-line units of production Final Check On January 3, 2018, Blano Enterprises, Inc., paid $280,700 for equipment used in manufacturing automotive supplies. In addition to the basic purchase price, the company paid $400 for transportation charges, $400 for insurance for the equipment while in transit, $11,000 sales tax, and $2,500 for a special platform on which to place the equipment in the plant. Management of Blano Enterprises, Inc., estimates that the equipment will remain in service for five years and have a residual value of $35,000. The equipment will produce 60,000 units the first year, with annual production 100 units during each of the next four years (i.e., 50,000 units in year 2; 40,000 units in year 3; and so on, for a total of 200,000 units). In trying to decide which depreciation method to use, Blano Enterprises, Inc., requested a depreciation schedule for each of the three depreciation methods (straight-line, units of production, and double-declining balance)