Crackling Fried Chicken bought equipment on January 2, 2018, for $27,000. The equipment was expected to remain in service for four years and to operate for 5.250 hours. At the end of the equipment's unetul , Crackling estimates that its residual value will be $6,000. The equipment operated for 525 hours the first year, 1,575 hours the second year, 2,100 hours the third year, and 1,050 hours the fourth year. Read the requirements Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double declining balance. Show your computations. Note: Three depreciation schedules must be prepared Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Depreciable Useful Depreciation Accumulated Expense Depreciation 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Asset Cost Book Value Date Cost Life MONTE quipmen oplu 500 Requirements du ord 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared. 2. Which method tracks the wear and tear on the equipment most closely? Print Done 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 ) di RA 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 Cost Per Unit Units Expense Depreciation 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Date Book Value nic 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 Asset Book DOB Depreciation Accumulated Book Data Cost Value Rate Expense Depreciation Value 1-2-2018 12-31-2018 12-31-2010 12-31-2020 12-31-2021 Requirement 2. Which method tracks the wear and tear on the equipment most closely? method tracks wear and tear most closely The