Pinson Company and Estes Company are two proprietorships that are similar in many respects. One difference is that Pinson Company uses the straight-line method and Estes Company uses the declining-balance method at double the straight-line rate. On January 2, 2018, both companies acquired the depreciable assets shown below. Asset Cost Salvage Value Useful Life Buildings $360,000 $ 20,000 40 years Equipment 130,000 10,000 10 years Including the appropriate depreciation charges, annual net income for the companies in the years 2018, 2019, and 2020 and total income for the 3 years were as follows. 2018 2019 2020 Total Pinson Company $ 84,000 $ 88,400 $ 90,000 $ 262,400 Estes Company 68,000 76,000 85,000 229,000 At December 31, 2020, the balance sheets of the two companies are similar except that Estes Company has more cash than Pinson Company. Lynda Peace is interested in buying one of the companies. She comes to you for advice. Answer the following. (a) Your answer is correct. Determine the annual depreciation recorded by each company during the 3 years. (Round answers to 0 decimal places, e.g. 2,125.) Pinson Company Estes Company 2018 $ $ 20500 $ 44000 2019 $ 20500 $ 37900 2020 $ 20500 $ 32885 Determine the total depreciation recorded by each company during the 3 years. (Round intermediate calculation and final answers to O decimal places, e.g. 2,125.) Total Accumulated Depreciation Pinson Company $ 61500 Estes Company $ 114785 (b) Your answer is incorrect. Assuming that Estes Company also uses the straight-line method of depreciation instead of the declining-balance method as in (a), prepare comparative income data for the 3 years. (Round answers to O decimal places, e.g. 2,125.) Year Pinson Company Net Income Estes Company Net Income 2018 $ ta 2019 $ $ 2020 $ ta