Year: 2002 2003 2004 Income Statement: Revenues after all expenses other than depreciation $200 $300 $400 Depreciation expense 50 50 50 Income before income taxes $150 $250 $350 Tax return: Taxable income before depreciation expense $200 $300 $400 Depreciation expense 75 50 25 Taxable income $125 $250 $375