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On January 1 of Year 1, Mary Company purchased a piece of equipment for $200,000. The estimated life of the equipment is 5 years. Mary estimates that the equipment can be sold for $60,000 at the end of its life. Harry Company uses double-declining balance depreciation. For Year 2 (the SECOND year), Mary Company's net income was $100,000.
Question 1: What would Mary Company's net income have been in Year 2 (the SECOND year) assuming that Mary Company had initially (on January 1, Year 1) decided NOT to use double-declining balance depreciation but had instead used straight-line depreciation? Note: Ignore income taxes. Write the dollar amount of your answer (do not write the dollar sign).
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