On January 1, Year 1, Marino Moving Company paid $68,000 cash to purchase a truck. The truck was expected to have a four-year useful life and a $4,000 salvage value. If Marino uses the straight-line method, which of the following shows how the adjusting entry to recognize depreciation expense at the end of Year 3 will affect the Company's financial statements? Multiple Choice Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Stockholders' Equity Revenue Expense = Net Income Cash + Book Value of Truck NA NA NA 16,000 NA 16,000 (16,000) NA Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Stockholders' Equity Revenue Expense = Net Income Cash + Book Value of Truck NA (16,000) NA (16,000) NA 16,000 (16,000) NA Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Stockholders' Equity Revenue Expense = Net Income Cash + Book Value of Truck NA NA NA 48,000 NA 48,000 (48,000) NA Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Stockholders' Equity Revenue Expense = Net Income Cash + Book Value of Truck NA NA NA 16,000 NA 16,000 (16,000) (16,000) Operating Activity