[The following information applies to the questions displayed below.) Tory Enterprises pays $258,400 for equipment that will last five years and have a $45,600 salvage value. By using the equipment in its operations for five years, the company expects to earn $90,500 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Depreciation Schedule Income Computation Calculate annual depreciation expenses using double-declining-balance method. End of Period Depreciation for the Period Beginning of Period Depreciation Annual Book Rate Depreciation Value Year Accumulated Depreciation Book Value $ 258,400 40% $ 103,360$ 103,360 $ 155,040 155,040 40% 62.016 165,376 93,024 93,024 40% 37,210 202,586 55,814 Year 1 Year 2 Year 3 Year 4 Year 5 Total 55,814 40% 0X 0 X 0 X 33,488 % 40% 0 0 % 0 X S 202,586 Depreciation Schedule Income Computation > appmeslu Tory Enterprises pays $258,400 for equipment that will last five years and have a $45,600 salvage value. By using the equipment in its operations for five years, the company expects to earn $90,500 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. X Answer is not complete. 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 $ 0 $ 0 $ 0