Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Tory Enterprises pays $246,400 for equipment that will last five years and have a $44.400 salvage value. By using the equipment in its operations for five years, the company expects to earn $89,300 annually, after deducting all expenses except depreciation Exercise 8-10 Double-declining-balance depreciation LO P1 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 Income Schedule Computation Calculate annual depreciation expenses using double declining balance method. Depreciation for the Period End of Period Beginning of Year Depreciation Annual Accumulated Period Book Book Value Rato Value Depreciation Depreciation Year 1 Year 2 Year 3 Year 4 Year 5 Total Der Income Computation > Exercise 8-10 Double-declining-balance depreciation LO P1 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 forth five-year period, assuming double declining balance depreciation Complete this question by entering your answers in the tabs below. Depreciation Income Schedule 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 slan.) Income Before Depreciation Depreciation Expense Net (Pretax) Income (Loss) Year 1 Year 2 Year 3 Year 4 Year 5 Totals