O Required information [The following information applies to the questions displayed below.) Tory Enterprises pays $238,400 for equipment that will last five years and have a $43,600 salvage value. By using the equipment in its operations for five years, the company expects to earn $88,500 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, Income Before Depreciation Net (Preta Depreciation Expense income Year 1 Year 2 Year 3 Year 4 Year 5 Totals Oki Company pays $264,000 for equipment expected to last four years and have a $29,000 salvage value. Prepare Journal entries to record the following costs related to the equipment 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Paid $6,250 cash for minor repairs necessary to keep the equipment working well. 3. Paid $14,870 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet Oki Company pays $264,000 for equipment expected to last four years and have a $29,000 salvage value. Prepare journal entries to record the following costs related to the equipment 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Pald $6,250 cash for minor repairs necessary to keep the equipment working well, 3. Paid $14,870 cash for significant repairs to increase the useful life of the equipment from four to seven years, View transaction list Journal entry worksheet B Record the cost of significant repairs of $14,870 paid in cash to increase the useful life of the equipment. Note: Enter debits before credits General Journal Dobit Credit Transaction 3 Recordante Cincente VALL