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Cheer Required Information The following information applies to the questions displayed below) Tory Enterprises pays $241,400 for equipment that will last five years and have a $43,900 salvage value. By using the equipment in its operations for five years, the company expects to earn $88,800 annually, after deducting all expenses except depreciation. Prepare a table showing Income before depreciation, depreciation expense, and net (pretax) income for each year and for the total five-year period, assuming straight-line depreciation is used. Year 1 Year 2 Year 3 Year 4 Year 5 Totals Income before Depreciation Net (Preta) Depreciation Expense Income s 241.4001 s 96.500 5 144,840 144,840 57,936 86.904 86.904 34.782 52.142 62.142 8242 43,900 43,000 0 43.000 $ 589,186 $ 197 500$ 371.680