Three different companies each purchased trucks on January 1, 2018, for $90,000. 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 72,000 miles in 2018, 60,000 miles in 2019, 55,000 miles in 2020, and 65,000 miles in 2021. Each of the three companies earned $78,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation.

Answer each of the following questions. Ignore the effects of income taxes.

1. a-1.Calculate the net income for 2018?(Round "Per Unit Cost" to 3 decimal places.)

Net Income

Company A:

Company B:

Company C:

b-1.Calculate the net income for 2021?(Round "Per Unit Cost" to 3 decimal places.)

Net Income

Company A:

Company B:

Company C:

c-1.Calculate the book value on the December 31, 2020, balance sheet?(Round "Per Unit Cost" to 3 decimal places.)

Book Value

Company A:

Company B:

Company C:

d-1.Calculate the retained earnings on the December 31, 2021, balance sheet?

Retained Earnings

Company A:

Company B:

Company C:

e-1. Which company will report the lowest amount of cash flow from operating activities on the 2020 statement of cash flows?

The cash flow from operating activities will beforif income tax is not considered.Depreciation expensea cash flow item.