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Krasner Enterprises purchased equipment for $60,000 on January 1, 2015. The equipment is expected to have a five-year life Using the straight-line method of depreciation, compute Depreciation expense for 2015. Depreciation expense for 2016 The book value at December 31, 2016. B1 B2 B3 Using the declining balance method of depreciation Depreciation expense for 2015 will be (higher/same/lower) Depreciation expense for 2019 will be (higher/same/lower). The book value at December 31, 2015 will be (higher/same/lower) B1A B2A B3A On January 1, 2013, Barry Inc. purchased a commercial truck for $48,000 and uses the straight-line depreciation method. The truck has a useful life of eight years. On December 31, 2015, the truck is sold for $34,000 when accumulated depreciation totals $18,000 Use the information immediately above to answer the next 4 questions. B1.1 What is the book value of the truck on the date of sale? B2.1 As a result of the sale of the truck, what amount of gain or loss should be recorded on December 31, 2015? (gain / loss) B3.1 As a result of the sale of the truck, what amount will be reported on the 2015 income statement? B4.1 As a result of the sale of the truck, what amount will be reported on the 2015 statement of cash flows under Investing Activity