hi. kindly provide the answers to this question as required by filling in the cells with the correct answer. please do your best to show workings in a very comprehensive manner so i can understand what goes where. Thank you.

Muri Plastics Inc. purchased a new machine one year ago at a cost of $81,000. Although the machine operates well, the president of Murl Plastics is wondering if the company should replace it with a new electronic machine that has just come on the market. The new machine would slash annual operating costs by two-thirds, as shown in the comparative data below: Present Proposed Machine New Machine $81,000 $121,500 Purchase cost new Estimated useful life new 6 years 5 years $56,700 18,900 Annual operating costs Annual straight-line depreciation 13,500 24,300 Remaining book value 67,500 13,500 Salvage value now Salvage value in five years in trying to decide whether to purchase the new machine, the president has prepared the following analysis: $67,500 Book value of the old machine Less: Salvage value 13.500 $54,000 Net loss from disposal "Even though the new machine looks good, said the president, "we can't get rid of that old machine if it means taking a huge loss on it. We'll have to use the old machine for at least a few more years. Sales are expected to be $283,500 per year, and selling and administrative expenses are expected to be $170,100 per year, regardless of which machine is used. Required: 1. Prepare a summary income statement covering the next five years, assuming the following a. The new machine is not purchased. b. The new machine is purchased. (Leave no cells blank -be certain to enter"0" wherever required.) 5 Years Summary Keep Old Buy New