chapter 6 number 5 I need help with finishing this question I need b and c. thank you!

5 Problem 6-27A (Algo) Computing and recording units-of-production depreciation LO 6-4, 6-5 14.32 points Sabel Co. purchased assembly equipment for $851,000 on January 1, Year 1. The equipment is expected to have a useful life of 370,000 miles and a salvage value of $37,000. Actual mileage was as follows: Year 1 103,000 Year 298,000 Year 89,000 Year 4 55,000 Year 5 27.000 Required a. Compute the depreciation for each of the five years, assuming the use of units-of-production depreciation b. Assume that Sabel earns $247,000 of cash revenue during Year 1. Record the purchase of the equipment and the recognition of the revenue and the depreciation expense for the first year in the following financial statements model. c. Assume that Sabel sold the equipment at the end of the fifth year for $39,300. Calculate the amount of gain or loss on the sale. Complete this question by entering your answers in the tabs below. Required A Required B Required Assume that Sabel earns $247,000 of cash revenue during Year 1. Record the purchase of the equipment and the recognition of the revenue and the depreciation year in the following financial statements model. (In the Cash Flow column, use the initials A to designate operating activity, IA for investing activity, FA for finan change in cash and leave the cell blank to indicate the element is not affected by the event. Enter any decreases to account balances with a minus sign) Income Statement Expense Nel Income Cash Flow SABEL CO. Horizontal Statements Model for Year 1 Balance Sheet Assets Stockholders' Equity Revenue Book Value Cash of Common Retained Equipment Stock Earnings 970,000 970.000 (851,000). 851,000 247.000 247.000 Event (151.000) IA Balance Equipment Revenue Depreciation Balance - + + 300.000 151,000 970,000 . 247.000 6 0 0 (051.000) Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Assume that Sabel sold the equipment at the end of the fifth year for sale. 9,300. Calculat Gain $ 6,700