net income is also needed on income sheet

Accelerated Deprecation Kottman's Warehouse da forkant on lancary 1, 2017 for $420,000. The forklift is expected to last for five years and have a residuale $17.000. Kofoanetes the double declining balance method for depreciation Required: 1. Calculate the depreciation expense, accumulated deprecation, and book value for each year of the forklift's enorry, round any depreciation calculations to the nearest dela Annual Accumulated Year Depreciation Depreciation 2017 Book Value 2018 2019 2020 2021 2. Identify and analyze the effect of the transaction for depreciation for 2017 Activity Accounts Statements How does this entry affect the accounting equation la financial statement item is not affected, select "No Entry and leave the amount box blank. If the effect on financial statement com is negative, decrease be sure to enter the answer with a mission. Remember if a contra account is increased, it will have the effect of decreasing the corresponding financial statement item Income Statement Balance Sheet Stockholders Liabilities Assets Equity Revenues Expenses Wanao dereiton for 2017 Activity Accounts State) w does this entry affect the accounting couation at anal statement om i hat affected, seetho Entry and the amount boxban felfect on a frantumist, O, be sure to enter the newer with a minuts Remember in a contraccount is incred, where the effect or decreasing the correctamentum Balance Sheet Income Statement stockholders Assets Liabilities Revenue Expenses 3. Refer to Exhibit 2. what actors may hawe innad Konto e doutledecining balance method Kolfinanmay beleve that the double-decining Dance method with the revenues produced by the asset. Kolman's may also choose this method bedeutettons depreciation to be an in many years of the assete and thus taxes until the later years