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Equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of $10,000 Compute the depreciation for the first and second years of use by each of the following methods. a. Straight-line: First year Second year b. Units-of-output (1,200 hours first year; 2,250 hours second year): First year Second year c. Double-declining balance: First year Second year The total assets and total liabilities of Paul's Pools and Palaces at the beginning and at the end of the current fiscal year are as follows: Jan. 1 Dec. 31 Total assets $280,000 $475,000 Total liabilities 205,000 130,000 a. Determine the amount of net income earned during the year. No additional common stock was issued and no cash dividends were paid. b. Determine the amount of net income during the year. The assets and liabilities at the beginning and at the end of the year are unchanged from the amounts presented above. No additional common stock was issued but cash dividends of $53,000 were paid. c. Determine the amount of net income earned during the year. The assets and liabilities at the beginning and at the end of the year are unchanged from the amounts presented above. Additional common stock of $35,000 was issued but no cash dividends were paid d. Determine the amount of net income earned during the year. The assets and liabilities at the beginning and at the end of the year are unchanged from the amounts presented above. Additional common stock of $12,000 was issued and twelve monthly cash dividends of $1,500 each were paid during the year. Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Year 1 Year 2 $10,000 45,000 90,000 Year 3 Determine the dividends per share for preferred and common stock for each year. If required, round your answers to two decimal places. If your answer is zero, please enter "0" Dividends per share: Year 1 Year 2 Year 3 Preferred stock Common stock