On January 2, 2018, Reliable Delivery Service purchased a truck at a cost of $65,000. Before placing the truck in service, Reliable spent $2,200 painting it, $2,500 replacing tires, and $9,800 overhauling the engine. The truck should remain in service for five years and have a residual value of $6,000. The truck's annual mileage is expected to be 23,000 miles in each of the first four years and 13,000 miles in the fifth year- 105,000 miles in total. In deciding which depreciation method to use, Carl Thomas, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units of -production, and double-declining-balance). Read the fequirements, Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, deprociation expense, accumulated depreclation, and asset book value. Begin by preparing a depreciation schedule using the straight-line method Requirements 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense; accumulated depreciation, and asset book value. 2. Reliable prepares financlal statements using the depreciation method that reponts the highest nat income in the early years of asset use. Consider the first year that Reliable uses the truck identify the depreciation method that meets the company's objectives