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please fill in whats missing, it says incomplete. Required information [The following information applies to the questions displayed below.] Nicole's Getaway Spa (NGS) purchased a
please fill in whats missing, it says incomplete.
Required information [The following information applies to the questions displayed below.] Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $24,500. The estimated useful life was five years and the residual value was $1,500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,500 hours; year 2, 2,400 hours; year 3,2,000 hours; year 4,2,100 hours; and year 5,1,000 hours. Assume NGS sold the hydrotherapy tub system for $7,350 at the end of year 3 . The following amounts were forecast for year 3 : Sales Revenues $61,000; Cost of Goods Sold $48,000; Other Operating Expenses $4,100; and Interest Expense $600, Create an income statement for year 3 for each of the different depreciation methods, ending at income before Income Tax Expense. (Don't forget to include a loss or gain on disposal for each method.). (Do not round intermediate calculations. Any losses should be indicated with a minus sign. Round your answers to the nearest dollar amount.) Step by Step Solution
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