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Not sure what I'm doing wrong. Do you think you can share your work/explain? I know it takes a bit to answer these questions, so

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Not sure what I'm doing wrong. Do you think you can share your work/explain? I know it takes a bit to answer these questions, so I appreciate whoever attempts to solve this. Thank you in advance.

Required Information [The following information applies to the questions displayed below.] Nicole's Getaway Spe (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $25,000. The estimated useful life was five years and the residual value was $1,000. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was yesr 1, 2,550 hours: year 2, 2.300 hours: year 3, 2,050 hours: yesr 4.2.100 hours; and year 5. 1.000 hours. 3. Assume NGS sold the hydrotherapy tub system for $7,500 at the end of year 3. The following amounts were forecast for year 3: Sales Revenues $62,000: Cost of Goods Sold $48,000: Other Operating Expenses $4,800; and Interest Expense $1.000. Creste an income statement for year 3 for each of the different depreciation methods, ending at Income before Income Tax Expense. (Don't forget to include a loss or gain on disposal for each method.). (Do not round Intermediate calculations. Round your answers to the nearest dollar amount.) Answer is not complete. NICOLE'S GETAWAY SPA (Forecasted) Income Statement For the Year Ended Year 3 Straight Unite-of- Lino Production s s 62.000 48.000 14,000 62.000 48.000 14,000 Double- Declining Balance s 62.000 48,000 14.000 Sales Revenue Cast of Goods Sold Gross Profit Operating Expenses Depreciation Expense Interest Expense Other Operating Expenses 4.800 1.000 4.800 4.920 1.000 4.800 3.600 1.000 4.800 10.600 10.720 9.400 Total Operating Expenses Income from Operations Loss (Gain) on Disposal Income before Income Tax Expense (3,100) (3,100) (940) (940) 2.100 (2.100)

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