2 Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $23,000. The estimated useful life was five years and the residual value was $2,000. Assume that the estimated productive life of the machine is 15,000 units. Expected annual production was year 1, 3,000 units; year 2, 4,000 units; year 3, 3,000 units; year 4, 3,000 units; and year 5, 2,000 units. 4 points Required: 1. Complete a depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining balance. eBook 00 Hint 2. Which method will result in the highest net income in year 2? Does this higher net income mean the machine was used more efficiently under this depreciation method? Print Complete this question by entering your answers in the tabs below. References Req 1A Reg 1B Reg 1C Reg 2A Reg 2B Complete a depreciation schedule for Straight-line method. (Do not round intermediate calculations.) Balance Sheet Income Statement Depreciation Expense Accumulated Book Value Year Cost Depreciation At acquisition 1 2 3 4 5 Reg 1 Req 1B > Reg 1A Reg 1B Req 1C Reg 2A Reg 2B Complete a depreciation schedule for Units-of-production method. (Do not round intermediate calculations.) Income Statement Depreciation Expense Balance Sheet Accumulated Depreciation Year Cost Book Value At acquisition 1 2 3 4 5 Req 1A Reg 1B Req 10 Req 2A Reg 2B Complete a depreciation schedule for Double-declining-balance method. (Do not round intermediate calculations. Round final answers to the nearest whole dollars.) Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 Req 1A Reg 1B Req 1C Req ZA Req 2B Which method will result in the highest net income in year 2? Units-of-production Double-declining balance Straight-line Req 1A Req 1B Req 1C Req 2A Req 2B Does this higher net income mean the machine was used more efficiently under this depreciation method? Yes No