Required information [The following information applies to the questions displayed below.) Three different companies each purchased trucks on January 1, Year 1. for $58.000. Each truck was expected to last four Years or 250,000 miles. Salvage value was estimated to be $6,000. All three trucks were driven 78.000 miles In Year 1 55,000 miles in Year 2.50,000 miles In Year 3, and 73,000 miles in Year 4. Each of the three companies eamed $47,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company Buses double- declining-balance depreciation, and company Cuses units-of-production depreciation Answer each of the following questions. Ignore the effects of income taxes, Required a-1. Calculate the net income for Year 1 a-2. Which company will report the highest amount of net income for Year 17 Complete this question by entering your answers in the tabs below. Required A1 Required A2 Calculate the net income for Year 1. (Round your "Per Unit Cost to 3 decimal places Not Income Company A Company B Company Required A2 > Ra information The following information applies to the questions displayed below) Three different companies each purchased trucks on January 1, Year 1. for $58,000. Each truck was expected to last four Years or 250,000 miles. Salvage value was estimated to be $6,000. All three trucks were driven 78,000 miles in Year 1 55,000 miles in Year 2, 50,000 miles in Year 3, and 73.000 miles In Year 4. Each of the three companies earned $47.000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company Buses double- declining-balance depreciation, and company C uses units-of-production depreciation. Answer each of the following questions. Ignore the effects of income taxes Required a-1. Calculate the net income for Year 1 a-2. Which company will report the highest amount of net income for Year 1? Complete this question by entering your answers in the tabs below. Required A1 Required A2 Which company will report the highest amount of net income for Year 17 Which company will report the highest amount of net income for Year 1?