BE 11-2 Depreciation methods E LO11-2 On January I, 2021, Canseco Plumbing Fixtures porchased equipment for $30,000. Residual value at the end of an estimated four-year service life is expected to be $2.000, The company expects the equipment to operate for 10,000 hours Calculate depreciation expense for 2021 and 2022 using cach or the following depreciation methods: (1) straight line, (2) double- declining balance, and (3) units-of-production using hours operated. The equipment operated for 2.200 and 3,000 hours in 2021 and 2022. respectively. BE 11-3 Depreciation methods: partial periods LO11-2 Refer to the situation described in BE 11-2. Assume the equipment was purchased on March 31, 2021, instead of January 1. Calculate depreciation expense for 2021 and 2022 using cach of the following depreciation methods: (1) straight line. (2) double-declining balance, and (3) units-of-production using hours operated. Page 619 BE 11-4 Depreciation method; Sum-of-the-years'-digits LO11-2 BE 11-2. Calculate Refer to the situation described in depreciation expense for 2021 and 2022 using sum-of-theyears digits assuming the equipment was purchased on (1) January I. 2021, and (2) March 31. 2021. BE 11-5 Disposal of property. plant, and equipment LO11-2 Lawler Clothing sold manufacturing equipment for S 16,000. Lawler originally purchased the equipment for $80,000, and depreciation through the date of sale totaled S71.000. What was the gain or loss on the sale of the equipment