Unadjusted Trial Balance:

Equipment: 356000

Mikes equipment was all purchased many many many many years ago. It has an estimated useful life of 10 years and a residual value of $10,000. 10k Residual

1. What will Mike report as depreciation expense on the income statement for the year ending

2. What will Mike report as net Book value of the equipment on the published balance sheet?

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