On January 2, 2024, Quick Delivery Service purchased a truck at a cost of $62,000. Before placing the truck in service, Quick spent $3,000 painting it, $800 replacing tires, and $4,200 overhauling the engine. The truck should remain in service for five years and have a residual value of $5,000. The truck's annual mileage is expected to be 28,000 miles in each of the first four years and 18,000 miles in the fith year-130,000 miles in total, In deciding which depreciation method to use, Jacob Nealy. the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance) Read the requirements Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book. valu0. 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. Quick prepares financial statements using the depreciation method that reports the highest net income in the early years of asset use. Consider the first year that Quick uses the truck. Identify the depreciation method that meets the company's objectives