10 points 1 PlasticWorks Corporation bought a machine at the beginning of the year at a cost of $12,000. The estimated useful life was five years, and the residual value was $2,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production was: year 1, 3,000 units; year 2, 3,000 units; year 3, 2,000 units; year 4, 1,000 units; and year 5, 1,000 units. Required: 1. Complete a depreciation schedule for each of the alternative methods. (Enter all values as positive amount.) a. Straight-line. Year At acquisition Income Statement Depreciation Expense Balance Sheet Cost Accumulated Depreciation Book Value 1 Print 2 3 erences 4 5 b. Units-of-production. Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value Al acquisition 3. 2 3 4 5 c. Double-declining balance. Year S Al acquisition 2 3 4 Incame Balance Sheet Statement Depreciation Expense Cost Accumulated Depreciation Book Value 2 MC Graw @ 2-a. Which method will result in the highest net income in year 2? O Units-of-production Strait-line O Double-declining balance 2-b. Does this higher net income mean the machine was used more efficiently under this depreciation method? No O Yes $ 64 > % 5 #3 3 4 Prev 1 of 5 MacBoo 6 Oka W E R T Y