On January 1. 2011. Ace Electronics paid $400,000 cash for a computer that would be used to store and process its accounting information. The computer has a 5-year useful life, after which it will be worthless because it will be obsolete. How much depreciation expose should Ace Electronics record for the year ended December 31, 2011. using the straight-line method? $400,000 $40,000 $80,000 $160,000 In December 2010. Bob Cratchit worked for Scrooge & Marley and earned $1.000. Federal income tax withholding is 10%. The FICA rate is 6.2% and the Medicare tax is 1.45%. How much of Bob's December salary will be Included In Salary expense on Scrooge & Marley's income statement for the year ended December 31, 2010"? $1,000 $823.50 $900 $923.50 The indirect method for the preparation of the statement of cash flows starts___. with net income and makes adjustments for all the items that are not cash by converting every number on the income statement to its cash amount by estimating the sources of cash and the uses of cash with cash collected from customers