Remsen, Inc. purchased equipment that cost $48,000. The equipment had a useful life of 5 years and a $5,000 salvage value. Remsen used the double-declining-balance method to depreciate its assets. Which of the following choices accurately reflects how the recognition of the first year's depreciation would affect the company's financial statements?

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The Answer of Remsen, Inc. purchased equipment that cost $48,000. The equipment had a useful life of 5 years and a $5,000 salvage value. Remsen used the double-declining-balance method to depreciate its assets. Which of the following choices accurately reflects how the recognition of the first year's depreciation would affect the company's financial statements?