E10-20 (similar to) Southem Fried Chicken bought equipment on January 2. 2018 for $36,000. The equipment was expected to remain in service for four years and to operate for 10,000 hours Al the end of the equipments useful lile, Southem estmates that ts residual value wll be $6,000. The equipment opertnd for 1,000 hours the first year 3,000 hours the second year, 4,000 hours the third year and 2,000 hours the fourth year Read the reauirements Quesition Help Requirement 1. Prepare a schedule of depreciadion expense, accumulated your computations. Nole: Three depreciation sohedules must be prepared depreciation, and book value per year for the equipment under the three deeciation methods: straight-line, units-of-production, and double-dedlining-balance. Show Begin by preparing a depneciation schedule using the straight-line method O Requirements Asset Depreciable Cost Depreeiation Cest Life Expense DepreciationVae 1-2-2018 12-31 018 12-31-2019 12-31-2020 12-31-2021 book valive p the equipment under he oomputations, Nole: Three depeciation achedules muat be prepered 2. Which method tracks the wear and tear on the equipment most closely Print Done