Required information [The following information applies to the questions displayed below.] Tory Enterprises pays $255,400 for equipment that will last five years and have a $45,300 salvage value. By using the equipment in its operations for five years, the company expects to earn $90,200 annually, after deducting all expenses except depreciation. Calculate annual depreciation expense using double-declining-balance method. Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total five-year period, assuming double-declining-balance depreciation is used. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Depreciation Income Schedule Computation Calculate annual depreciation expenses using double-declining-balance method. (Round Annual Depreciation to the nearest whole dollar.) Depreciation for the Period End of Period Year Beginning of Period Book Depreciation Rate Value Annual Depreciation Accumulated Depreciation Book Value Year 1 $ 255,400 40% $ 102,160 $ 102,160 c $ 153,240 Year 2 153,240 40% 61,296 163,456 91,944 Year 3 91,944 40% O 36,778 ( 200,234 55,167 Year 4 55,167 40% 9,867 6 210,101 45,300 Year 5 45,300 40% 00 210,101 45,300 Total $ 210,101 Depreciation Income Schedule Computation Depreciation Expense Net (Pretax) Income (Loss) Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total five-year period, assuming double-declining-balance depreciation is used. (Net loss should be entered with a minus sign.) Income Before Depreciation Year 1 90,200 $ 102,160 11,920 Year 2 90,200 61,296 28,904 Year 3 90,200 36,778 53,422 Year 4 90,200 9,867 80,333 Year 5 90,200 00 90,200 Totals 451,000 $ 210,101 $ 264,779