15 points Jason Company is a manufacturing company established in 2017. The company's fiscal year is from January to December. The following activities occurred during the year 2021. The Company purchased an equipment on September 1 for its production process. The cost of this machine was $100,000. The company estimated that the machine would have a salvage value of $20,000 at the end of its service life. Its life is estimated at 5 years and its working hours are estimated at 20,000 hours. The company started constructing a special purpose equipment for its operations from January 1. The company borrowed $100,000 at 12% from NCB Bank. The company already has two other existing loan, one is $400,000, 15%, 10-year bonds payable and the other one is $200,000, 10%, 5-year note payable. The following expenditures were made prior to the equipment's completion on Dec. 31, 2021: Actual Expenditures during 2021: January 1 June 30 October 1 December 31 Total expenditures $50,000 100,000 200,000 150,000 $500,000 The company transferred to stockholders some of its equity investments costing $1,000,000 by declaring a property dividend on November 28, 2021, to be distributed on December 31, 2021, to stockholders of record on December 15, 2021. At the date of declaration, the securities have a market value of $1,500,000. On December 31, the company issued 500 shares of $12 par value common stock for $7,500. Instructions: 1. The company uses Sum-of-the-years'-digits methods. What is the depreciation expense for the equipment purchased on September 1 at the end of the year 2021? Show your calculations. Write the journal entry to record the depreciation on December 31, 2021. 2. What is the amount of capitalized interest for the special equipment constructed during 2021? Show detail calculations including calculation for the actual and avoidable Interest. Write down the journal entry to Capitalize Interest on December 31, 2021. 3. Write down the journal entries on dividend declaration date (November 28, 2021), dividend record date (December 15, 2021) and Dividend payment date (December 31, 2021). 4. Prepare the journal entries to record the issuance of the shares on December 31, 2021