Veto Company bought equipment on January 1, 2020, for $63,000. The expected life is 10 years, and the residual value is $7,000. Based on three acceptable depreciation methods, the annual depreciation expense and balance of accumulated depreciation at the end of 2020 and 2021 are shown below. Case A Case B Case C Annual Accumulated Annual Accumulated Annual Accumulated Year Expense Amount Expense Amount Expense Amount 2020 $12,600 $12,600 $5,600 $5,600 $10,182 $10,182 2021 10,080 22,680 5,600 11,200 9,163 19,345 Required a. Identify the depreciation method used in each case A, B, and C. b. Based on the answer to part a, prepare a depreciation schedule that shows annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset for each case A, B, and C. c. Which method results in the highest net income in year 1? d. Which method results in the highest net income in year 10? Identification of Method Case A Depreciation Schedule Case B Depreciation Schedule Case C Depreciation Schedule Analysis b. Based on the answer to part a, prepare a depreciation schedule that shows annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset for each case A, B, and C. Note: Round each amount in the table to the nearest whole number. Case A: For the Period End of Period Reporting Depreciation Accumulated Book Period Expense Depreciation Value Jan. 1, 2020 $ 0 x Dec. 31, 2020 $ 0 x $ 0 x 0X Dec. 31, 2021 x 0 x 0 X Dec. 31, 2022 0 x 0 x 0 x Dec. 31, 2023 x 0X 0 x Dec. 31, 2024 0 x 0 X 0 x Dec. 31, 2025 0 X OX 0 x Dec. 31, 2026 0X 0 x 0 x Dec. 31, 2027 0 x 0X 0 x Dec. 31, 2028 x OX 0X Dec. 31, 2029 0 X OX 0 x b. Based on the answer to part a, prepare a depreciation schedule that shows annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset for each case A, B, and C. Note: Round each amount in the table to the nearest whole number. Case B: For the Period End of Period Reporting Depreciation Accumulated Book Period Expense Depreciation Value Jan. 1, 2020 $ 0 x Dec. 31, 2020 $ 0 x $ 0 x OX Dec. 31, 2021 0 x 0 x 0 x Dec. 31, 2022 0 X 0 x 0 x Dec. 31, 2023 0 X 0 X 0 x Dec. 31, 2024 0 x 0 X 0 X Dec. 31, 2025 0 x 0 x 0 x Dec. 31, 2026 0x 0 X Dec. 31, 2027 0 x 0 X Dec. 31, 2028 0 X 0X 0 x Dec. 31, 2029 0 X 0 x OX $ 0 X b. Based on the answer to part a, prepare a depreciation schedule that shows annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset for each case A, B, and C. Note: Round each amount in the table to the nearest whole number. Case C: For the Period End of Period Reporting Depreciation Accumulated Book Period Expense Depreciation Value Jan. 1, 2020 Dec 31, 2020 $ 0 x $ Dec. 31, 2021 Dec. 31, 2022 OX Dec. 31, 2023 Dec. 31, 2024 OX Dec. 31, 2025 Dec. 31, 2026 Dec. 31, 2027 0 x 0 X 0 x Dec 31, 2028 0 x Dec 31, 2029 0 x OX OX OX 0 x 0 x 0 x OX OX OX 0 X OX 0 x 0 X 0 X 0 x 0 x 0 x OX 0 X 0 X OX