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This is literally my 3rd time posting this question, each person before now has either gotten it entirely incorrect or 80% incorrect. Please just show
This is literally my 3rd time posting this question, each person before now has either gotten it entirely incorrect or 80% incorrect. Please just show all work/calculations you do. Each parts shown above are from the same questoin, if the text is hard to read try using your internet browser's built-in zoom function because these are just screenshots off my computer i can't really make them any better than this.
2 Three different companles each purchased trucks on January 1, Year 1, for $58,000. Each truck was expected to last four years or 250,000 miles. Salvage value was estimated to be $5,000. All three trucks were driven 78,000 miles In Year 1,55,000 miles In Year 2, 50,000 miles In Year 3, and 73,000 miles In Year 4. Each of the three companies earned $47,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company Buses double-declining balance depreciation, and company C uses units-of-production depreciation. eBook Answer each of the following questions. Ignore the effects of Income taxes. Required Print a-1. Calculate the net Income for Year 1. a-2. Which company will report the highest amount of net income for Year 1? b-1. Calculate the net Income for Year 4. b-2. Which company will report the lowest amount of net Income for Year 4? C-1. Calculate the book value on the December 31, Year 3, balance sheet c-2. Which company will report the highest book value on the December 31, Year 3, balance sheet? d-1. Calculate the retained earnings on the December 31, Year 4, balance sheet. d-2. Which company will report the highest amount of retained earnings on the December 31, Year 4, balance sheet? e. Which company will report the lowest amount of cash flow from operating activities on the Year 3 statement of cash flows? Complete this question by entering your answers in the tabs below. Required A Required B Required c Required D Required E a-1. Calculate the net income for Year 1. (Round "Per Unit Cost" to 3 decimal places.) a-2. Which company will report the highest amount of net income for Year 1? Net Income a-1 Company A Company B Company C Highest net income a-2 Required A Required B Required c Required D Required E b-1. Calculate the net income for Year 4. (Round your "Per Unit Cost" to 3 decimal places.) b-2. Which company will report the lowest amount of net income for Year 4? Net Income b-1 Company A Company B Company C Lowest net income b-2 Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E C-1 c-1. Calculate the book value on the December 31, Year 3, balance sheet. (Round "Per Unit Cost" to 3 decimal places.) c-2. Which company will report the highest book value on the December 31, Year 3, balance sheet? Book Value Company A Company B Company C Highest book value C-2 d-1. Calculate the retained earnings on the December 31, Year 4, balance sheet. d-2. Which company will report the highest amount of retained earnings on the December 31, Year 4, balance sheet? Retained Earnings d-1 Company A Company B Company C Highest retained earnings d-2 Which company will report the lowest amount of cash flow from operating activities on the Year 3 statement of cash flows? Lowest cash flowStep by Step Solution
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