P9-31A (similar to) On January 3, 2018, Swifty Delivery Service purchased a truck at a cost of $95.000 Before placing the truck in service, Swifty spent $2,200 painting it. 5500 replacing tires, and $11,300 overhauling the engine. The truck should remain in service for five years and have a residual value of $10,000. The truck's annual mileage is expected to be 26,000 miles in each of the first four years and 19.750 miles in the fifth year-123.750 miles in total. In deciding which depreciation method to use, Steven Kittridge, 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 value Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Date Cost Cost Life Expense 1-3-2018 Accumulated Depreciation Book Value 12-31-2018 12-31-2019 12-31-2020 12-31-2021 12-31-2022