mework Saved Exercise 9-12 Income statement effects of alternative depreciation methods LO2 Kenartha Oil recently paid $495,900 for equipment that will last five years and have a residual value of $122,000. By using the machine in its operations for five years, the company expects to earn $188,000 annually, after deducting all expenses except depreciation. Complete the schedule below assuming each of (a) straight-line depreciation and (b) double-declining-balance depreciation. (Do not round intermediate calculations. Enter loss amounts with a minus sign.) (e) Straight Line Depreciation: Profit before depreciation Depreciation expenses Profit (loss) (b) Double-Declining Balance Depreciation: Profit before depreciation Depreciation expenses Profit (loss) Year 1 Year 2 Year 3 Year 4 Year 5 5.Year Totals Year 1 Year 2 Year 3 Year 4 Year 5 5-Year Totals