Bevo Partnership had the following financial activity for the year: Gross receipts from sales $ 860,000 Cost of goods sold (390,000 ) Operating expenses (180,000 ) Business meals and entertainment (20,000 ) Section 1231 gain on equipment sale 5,000 Distribution to partners (75,000 ) Compute Bevo's ordinary business income for the year Group of answer choices $280,000 $270,000 $205,000 $195,000

Bayside coatings company purchased waterproofing equipment on january 2, 20y4, for $190,000. the equipment was expected to have a useful life of four years and a residual value of $9,000. instructions: determine the amount of depreciation expense for the years ended december 31, 20y4, 20y5, 20y6, and 20y7, by (a) the straight-line method and (b) the double-declining-balance method. also determine the total depreciation expense for the four years by each method. depreciation expense year straight-line method double-declining-balance method 20y4 $ $ 20y5 20y6 20y7 total $