Bears, Inc. bought equipment on April 10 of Year 1, for $132,000. The equipment was expected to remain in service for five years and to produce 60,000 widgets. At the end of the equipment's useful life, Bears estimates that its residual value will be $2,000. The equipment produced 9,000 widgets for Bears, Inc. in the current year. On January 1 of Year 2 Bears sold the equipment for $96,000. a. Compute deprecation using straight-line balance method for Year 1. b. Journalize depreciation under the straight-line method for Year 1. C. Journalize the sale of equipment on January 1 of Year 2