Chapter 11- Property Plant and Equipment- Utilization and Disposition(20 points) Prepare a depreciation schedule for the following machine using Straight Line, Double declining Balance, Units of Production and Sum of the Years digit. Include the Book Value in the schedule. Use one workbook and several spreadsheets. (This will also help you answer theq Use the information from the Hobart Mfg Company problem included in your test. It is the following question but will have different numbers. Use the numbers on your test On January 1, 2018, Hobart Mig Company purchased a drill press at a cost of $36,000. The drill press is expected to last 10 years and has a residual value of 6 6,000. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2018 and 2019, 25,000 and 84,000 units, respectively, were produced. (Make up mumber of units for 2020, 2021, 2022, 2024) Prepare an IOM to the Controller stating what depreciation method you would suggest, and why including how it would affect the net income