Required Information (The following information applies to the questions displayed below.] Tory Enterprises pays $253,400 for equipment that will last five years and have a $45,100 salvage value. By using the equipment in its operations for five years, the company expects to earn $90,000 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 Tive-year period, assuming double-declining balance depreciation is used Complete this question by entering your answers in the tabs below. Depreciation Schedule Income 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 Depreciation Annual Accumulated Period Book Book Value Value Rate Depreciation Depreciation Year 1 $ 90.000 101,360 Year 2 90.000 60.816 Year 3 90.000 36.490 Year 4 90,000 21 894 Year 5 90.000 0 Total $ 220,560 Income Computation > 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 is used. (Net loss should be entered with a minus sign.) Income Before Depreciation Depreciation Expenso Net (Pretax) Income (Loss) Year 1 Year 2 Year 3 Year 4 Year 5 Totals 0 $ 5 0 $ 0