On January 3, 2018, Reliable Delivery Service purchased a truck at a cost of $90,000. Before placing the truck in service, Reliable spent $2,200 painting it, $1,700 replacing tires, and $5,100 overhauling 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 first four years and 16,000 miles in the fifth year100,000 miles in total. In deciding which depreciation method to use, Harvey Warner, the general manager, requests a depreciation schedule foi 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 value. Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Requirements Asset Depreciation for the Year Depreciable Useful Depreciation Cost Life Expense Accumulated Book Date Cost Depreciation Value 1-3-2018 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. 2. Reliable 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 Reliable uses the truck. Identify the depreciation method that meets the company's objectives 12-31-2018 12-31-2019 12-31-2020 12-31-2021 12-31-2022 Print Done