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Papa's Fried Chicken bought equipment on January 2, 2018, for $21,000. The equipment was expected to remaln in service for four years and to operate for 4,5CO hours. At the end af the equipment's useful life, Papa's estimates that Its resdual value will be $3,000. The equipment operated for 450 hours the first year, 1,350 hours the second year, 1,800 hours the third year, and 900 hours the fourth year Read the Requirement 1. Prepare a schedule of depreclation expense, accumuiated depvealation, and book value per yearfor the equipment under the three depreclatlon methods: straight-lne, units-of-production, and double-declining-balance. Shovw your computations. Note: Three dopreciation schedules musf be preparod. Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Useful Life Asset Depreciable Depreciation Accumulated Expense Depreciationn Book Date Cost Cost Value 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. -Depreciation per unit Prepare a depreciation schedule using the units-of-production method Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Book Date Cost Per Unit Units Expnse Depreciation Value 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "O" for any items with a zero value.) Double-Declining-Balance Depreciation Schedule Depreciation for the Year DDB Rate Asset Book Depreciation Accumulated Book Date Cost Value Expens se Depreciation Value 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Requirement 2. Which method tracks the wear and tear on the equipment most closely? The V method tracks wear and tear most closely