What annual depreciation expense will be reported on the income statement for the business?

Answer:

$$12,000$

Part b$)$

On the income and cash flow statements below, fill in the missing values in the highlighted cells. $($Smooth Sailing will use the straight$-$line method to determine their Deprecation in the Income Statement below$).$

$\backslash$table$[[$Income Statement,Year $1,$Year $2],[$Revenue$,$$$3,360,000,$$$3,360,000$