5. 0.66 points Solar Innovations Corporation bought a machine at the beginning of the year at a cost of 24,000. The estimated useful life was five years and the residual value was $3.000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production for year 1, 2,000 units year 2, 3,000 units year 3. 2,000 units, year 4, 2,000 units, and year 5. 1.000 units Required: 1. Complete a depreciation schedule for each of the alternative methods. (Do not round intermediate calculations.) a Straight-line Income Statement Depreciation Expense Balance Sheet Accumulated Depreciation Year Cost Book Value At acquisition 1 2 4 5 b. Units of production Income Statement Depreciation Expense Balance Sheet Accumulated Depreciation Year Cost Book Value Al acquisition 1 2 3 4 5 c. Double-declining balance Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 2-a. Which method will result in the highest net income in year 2? OOO Straight-line Double-declining-balance Units-of-production 2-b. Does this higher net income mean the machine was used more efficiently under this depreciation method? 8 Yes No