Question 2.17. Using the information provided in the problem on page 83, calculate/answer the following questions: a. Calculate the depreciation expense using the straight-line method for the equipment. b. Calculate the depreciation expense using the double-declining balance method for the first year the equipment was owned c. Calculate the depreciation expense using the double-declining balance method for the second year the equipment was owned. CHAPTER 2 The Balance Sheet 83 Year Net Income co 2.17. The Lazy O Ranch just purchased equipment costing 560.000. The equipment is expected (a) Calculate the depreciation expense using the straight-line method for the first two (b) Calculate the depreciation expense using the double-declining balance method for 2.18. Using the information below for Dean Corporation, calculate the amount of dividends Dean most likely paid to common stockholders in 2013, 2014, and 2015 Shop World reported the following information on leases in the notes to the financial last five years and have no salvage years the equipment is owned the first two years the equipment is Retained Earnings Balances January 1, 2013 December 31, 2013 December 31, 2014 December 31, 2015 Current liabilities Long-term debt Other liabilities Total assets $700 890 2008 1,015 2009 225 1,010 2010 40 2.19. From the following accounts, prepare a balance sheet for Chester Co. for the current calendar year. Accrued interest payable $1,400 Property, plant, and equipment 34.000 Inventory 12,400 Additional paid-in capital 7,000 Deferred taxes payable (noncurrent) 1,500 Cash 1,500 Accumulated depreciation 10,500 Bonds payable 14,500 Accounts payable Common stock 2,500 Prepaid expenses 700 Land held for sale 9,200 Retained earnings 2 Current portion of long-term debt 1,700 Accounts receivable 6.200 Notes payable 2.20 Writing Skills Problem. At fiscal year-end December 31, 2015, Shop World had the following assets and liabilities on its balance sheet (in millions): 4300 8,700 $9.459 12.330 1,180 37,411 statements Totalrent