something is missing
everything is right but i just need help finiding the loss/ gain disposal
Required information (The following information applies to the questions displayed below.) Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $6,500. The estimated useful life was five years and the residual value was $500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,350 hours; year 2, 2,450 hours; year 3, 2,100 hours; year 4, 2,100 hours; and year 5, 1,000 hours. 3. The following amounts were forecast for year 3: Sales Revenues $46,000; Cost of Goods Sold $36,000; Other Operating Expenses $4,600; and Interest Expense $900. Create an income statement for year 3 for each of the different depreciation methods, ending at Income before Income Tax Expense. (Don't forget to include a loss or gain on disposal for each method.). (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) NICOLE'S GETAWAY SPA (Forecasted) Income Statement For the Year Ended Year 3 Straight Line Units-of- Production 1 $ $ 46,000 36,000 10,000 46,000 36,000 10,000 Double- Declining Balance $ 46,000 36,000 10,000 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense Other Operating Expenses 1,200 4,600 1,260 4,600 936 4,600 Total Operating Expenses Income from Operations Interest Expense 5,800 4,200 900 5,860 4,140 900 5,536 4,464 900 Income before Income Tax Expense 3,300 3,240 5 ,364 Required information (The following information applies to the questions displayed below.) Part 3 of 3 Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $6,500. The estimated useful life was five years and the residual value was $500. Assume that the estimated productive life of the machine is 10,000 hours. Expected annual production was year 1, 2,350 hours; year 2, 2,450 hours; year 3, 2,100 hours: year 4, 2,100 hours; and year 5, 1,000 hours. 12 points eBook 3. The following amounts were forecast for year 3: Sales Revenues $46,000; Cost of Goods Sold $36,000; Other Operating Expenses $4,600; and Interest Expense $900. Create an income statement for year 3 for each of the different depreciation method ending at Income before Income Tax Expense. (Don't forget to include a loss or gain on disposal for each method.). (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Print References NICOLE'S GETAWAY SPA (Forecasted) Income Statement For the Year Ended Year 3 Straight Units-of- Line Production 46,000 $ 46,000 36,000 36.000 10,000 10,000 Double- Declining Balance $ 46,000 36,000 10,000 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense Other Operating Expenses 936 1,200 4,6001 1,260 4,600 4,600 Total Operating Expenses Income from Operations Interest Expense Loss (Gain) on Disposal Income before Income Tax Expense 5,800 4,200 (900) 5,860 4,140| (900) 5,536 4,464 (900) 3,300 3,240 3,564
