A All the costs chargeable to the bu Depreciation on the building for 2014 Explanations are not required. 2 Report Garrett's Book Store's plant assets on the company's balance sheet at December 31, 2014 3. What will Garrett's income statement for the year ended December 31, 2014, report for this situation? E-33 (Learning Objective 3: Determine depreciation amounts by three methods) Royce's Pizza bughaused Honda delivery van on January 2, 2014, for $43,000. The van was expected to emain in service for four years (208,000 miles). At the end of its useful life, Royce's officials esti- mated that the van's residual value would be $3,500. The van traveled 65,000 miles the first year, 64,000 miles the second year, 42,000 miles the third year, and 37,000 miles in the fourth year. Requirements 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation ⁷roduction and double-declining-balance, mund to the nearest two decimal places after each step of the calculation.) 2. Which method best tracks the wear and tear on the van? 1. Which method would Royce's prefer to use for income tax purposes? Explain in detail why Royce's prefers this method. 27-448 (