On January 3, 2018, Nimble Delivery Service purchased a truck at a coet of $00,000 Belore placing the truck in service, Nimble spent $3,000 painting it, $1,200 replacing tres, and $4,800 overhauling the engine. The tuck should remain in service for five years and have a residual value of $9,000. The truck's annual mileage is expected to be 21,000 miles in each of the first four years and 16,000 miles in the fifth year-100,000 miles in total. In deciding which depreciation method to use, Miksl Johnson, the general manager, requests a depreciation schedule for each of the deprecieion methods (straight-ine, units-of-production, and double-declining balance) Read the ecuiement Requirement 1. Prepare a depreciation schedule for esch depreciation method, showing asset co0st, depreciation expense, accumulated deprecietion, and asset book value. Begin by preparing a depreciation schedue using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cost Life Expense Depreciation Value 1-3-2018 101000 12-31-2018 12-31-2019 12-31-2020 12-31-2021 12-31-2022 Choose from any ist or enter any number in the input flelds and then continue to the next question This Quiz: 2 pts possible On January 3, 2018, Nimble Delivery Service purchased a truck at a cost of $90,000 Belore placing the truck in service, Nimble spent $3,000 painding it, $1,200 repiacing tires, and $4,800 overhauling the engine. The ruck should remain in service for five years and have a residual value of $9,000. The truck's annual mileage is expected to be 21,000 miles in each of the frst four years and 16,000 miles in the Sth year-100,000 miles in total. In deciding which depreciation method to use, Mikail Johnson, the general manager.equests a depreciation schedule for each of the depreciation methods (straighte-ine, units-of-production, and double-declining-balance) Read the quirements Before completing the units-off-production depreciation schedule, caloulate the depreciation eipese per unit Select the formula, then enier the amounts and calculate the depreciation expense per unit. (Round depreciation expense per unit to two decimal places) Depreciation per unit C Prepare a depreciation schedule using the units-of-production method. (Enter the depreciation per unit to two decimal places, $XX) Units-of-Production Depreciation Schedule Depreciation for the Year Asset Number of Depreciation Accumulated Depreciation Book Date Cost Per Unit Units Expanse Depreciation Value 1-3-2018 12-31-2018 12-31-2019 12-31-2020 Choose from any list or enter any number in the input flelds and then oontinue to the next question On January 3, 2016, Nimble Delivery Service purchased a truck at a cost of $90,000. Belore placing the truck in service, Nimble spent $3,000 painting it, $1,200 replacing tires, and $4,800 overhauing the engine. The truck should remain in service for five years and have a residual value of $9,000. The truck's annual mileage is expected to be 21,000 miles in each of the irst four years and 16,000 miles in the fifth year-100,000 miles in total. In deciding which deprecietion method to use, Mikal Jehnson, the general manager, requests a deprecistion schedule for esch of the depreciation methods (straight-line, units-of-production, and double-decining-balance). Read the urement 12-31-2021 12-31-2022 Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Round deprecition expense to the searest whole dollar.) Double-Declining -Balance Depreciation Schedule Depreciation for the Year Depreciation Aecumulated Book DDB Book Asset Depreciation Expense Value Value Rate Date Cost 1-3-2018 12-31-2018 12-31-2019 12-31-2020 x 12-31-2021 12-31-2022 Choose from any list or enter any number in the input fields and then continue to the next question Requirement 2. Nimble prepares financial statements using the depreciation method that reports the highest net inoome in the early years of asset use, Consider the frst year that Nimble uses the truck. ldentily the depreciation method that meets the company's objectives The depreciation method that reports the highest net income in the first year is the method. It produces the depreciation expense and thorefore the highest net income Choose from any Ist or enter any number in the input fields and then continue to the next