Required information [The following information applies to the questions displayed below.] Tory Enterprises pays $245,400 for equipment that will last five years and have a $44,300 salvage value. By using the equipment in its operations for five years, the company expects to earn $89,200 annually, after deducting all expenses except depreciation. Calculate annual depreciation expenses 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. Complete this question by entering your answers in the tabs below. Depreciation Schedule Income Computation Calculate annual depreciation expenses using double-declining-balance method. Depreciation for the Period End of Period Beginning of Depreciation Annual Accumulated Year Period Book Rate Book Value Depreciation Depreciation Value Year 1 Year 2 Year 3 Year 4 Year 5 Total Depreciation Schedule Income Computation > ! Required information [The following information applies to the questions displayed below.] Tory Enterprises pays $245,400 for equipment that will last five years and have a $44,300 salvage value. By using the equipment in its operations for five years, the company expects to earn $89,200 annually, after deducting all expenses except depreciation. Calculate annual depreciation expenses 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. Complete this question by entering your answers in the tabs below. Depreciation Schedule Income Computation 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. (Net loss should be entered with a minus sign.) Income Before Depreciation Net (Pretax) Depreciation Expense Income (Loss) Year 1 Year 2 Year 3 Year 4 Year 5 Totals