EF10-20 (similar to) Question Help Y Granny's Fried Chicken bought equipment on January 2, 2024, for $15,000. The equipment was expected to remain in service for fo years and to operate for 2.400 hours At the end of the equipments useful life, Gray's mates that residual value will be $3,000. The equipment operated for 240 hours the first year, 120 hours the second year, 960 hours the third year, and 480 hours the fourth year Read the urements Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-ine, units-of-production, and double-declining-balance. Showe 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 Date Asset Depreciable Cost Cost Useful Depreciation Accumulated Book Life Depreciation Value 1-2-2024 12-31-2004 12-31-2025 12-31-2026 12-31-2027