On January 3, 2018, Trusty Delivery Service purchased a truck at a cost of $60,000. Before placing the truck in service, Trusty spent $2.200 painting it, 5800 replacing tres, and $6.000 overhauling the engine. The truck should remain in service for five years and have a residual value of $9,000. The truck's annual meage is expected to be 21,000 mies in each of the first four years and 16,000 miles in the firth year-100,000 miles in total, In deciding which depreciation method to use, Harold Parker, the general manager, regulats a depreciation schedule for each of the depreciation methods (straight-line, units of production, and double-douring balon) 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 Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cout Le Expense Depreciation 1.3.2018 12.31-2018 5 years Choose from any list of enterary aber in the input folds and then click Check Answer Read the requirements. Book Asset Depreciation for the Year Depreciable Useful Depreciation Accumulated Cost Life Expense Depreciation Value Date Cost 1-3-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 12-31-2022 5 years 5 years 5 years 5 years 5 years i Requirements eciabl -ost 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. 2. Trusty 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 Trusty uses the truck. Identify the depreciation method that meets the company's objectives 4 parts remaining