E9-6 Computing and Recording Straight-Line Depreciation Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $22,000. The estimated useful life was five years and the residual value was $2,000. Required: 1. Complete a depreciation schedule with the following headings. Assume the straight-line method is used and round answers to the nearest dollar. Year Computation Income Statement Depreciation Expense Balance Sheet Accumulated Cost Depreciation Book Value At acquisition 1 2. Prepare the journal entry to record Year 2 depreciation. LO 9-3