Part A Benson Company bought a machine costing $120.000 on 1 April 2015 Management estimated the useful life to be 10 years and the residual value to be $20.000, On 1 January 2018, management revised the useful life and residual value of the machine The remaining useful life was revised to 5 years while the residual value was revised to $10,000 The company's financial year end is 31 December Compute the depreciation expense, accumulated depreciation and net book value of the machine for 2015, 2016, 2017 and 2018. (13 marks) Part B A fire broke out in the premises of Benny Company. After the fire was put out, the accountant attempted to reconstruct the income statement using the below information and partial income statement for the year ended 31 December 2018. Profit margin ratio is 8.0% Accounts receivable tumover is 15.0. Inventory tumover is 5.0. Accounts receivables (net) at the start of 2018 and end of 2018 are $15,000 and $16,100 respectively, Inventories at the start of 2018 and end of 2018 are $27,000 and $28,720 respectively Use the above financial ratios to complete the income statement of Benny Company for the year ended 31 December 2018. You have to show clearly how you derive the missing information (1) to (6) Benny Company (Partial) Income Statement For the year ended 31 December 2018 Revenue (net sales) (1) Less: Cost of sales Gross profit Less: Expenses Selling general and administrative expenses 48,000 Finance costs Profit before income tax Less: Income tax expense (5) Net profit (6) (12 marks) (2) lelo sgt sleela 6.000