A1 B fxx C Sullivan Ranch Corporation has purchased a new tractor. The following D 1 jullivan Ranch Corporation has purchased a new tractor. The following information is given: E F G H 2 3 Cost: 4 Estimated Residual: Sistimated Life in years: 6 Estimated Life in hours: 7 Actual Hours: 8 Year 1 9 Year 2 10 Year 3 11 Year 4 12 13 14 15 16 $ 150,000 $ 10,000 4 1200 360 270 350 220 Prepare the following Straight Line depreciation schedule by using the excel SLN FUNCTION (fx) to calculate the Depreciation Expense for Years 1-4 in the Depreciation Expense column. Enter formulas or absolute cell references for the remaining cells. 17 18 21 22 23 24 ; R 20 30 SULLIVAN RANCH CORPORATION Depreciation Schedule-Straight Line Method End of year amounts Year Depreciation Expense Accumulated Depreciation 1 2 3 4 Total 25 Prepare the following Units-of-Production depreciation schedule by entering formulas. 26 Jse absolute cell references when appropriate. 27 28 29 Year SULLIVAN RANCH CORPORATION Depreciation Schedule-Units-of-Production Method End of year amounts Depreciation Expense Accumulated Depreciation Book Value Book Value