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please finish this Required information [The following information applies to the questions displayed below.] Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add
please finish this
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 $19.500. The estimated useful life was five years and the residual value was $500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1,2,300 hours; year 2, 2,500 hours; year 3,2,100 hours; year 4,2,100 hours; and year 5,1,000-hours. Assume NGS sold the hydrotherapy tub system for $5,850 at the end of year 3. The following amounts were forecast for year 3 : Sales Revenues $57,000; Cost of Goods Sold $44,000; Other Operating Expenses $4,300; and Interest Expense $900. 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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