Equipment was purchased on January 1, 2017 for S80,000. The asset is expected to last for four years, at which time the estimated residual value will be $10,000. Required a) Prepare a table showing the amount of depreciation expense each year, accumulated depreciation to date and net book value. The company uses straight: line depreciation. Do not enter dollar signs or commas in the input boxes Round all dollar figure answers to the nearest whole number Year Cost of Long-Term Asset Depreciation Expense Accumulated Depreciation Net Book Value 2017 $80,000 S17500 $17500 2018 580,000 17500 s35000 2019 SB0.000 S17500 $152500 2020 S00.000 s17500 s70000 b) The asset was sold for $13,000 on the first day of 2021. Prepare the journal entry to record the sale. Enter all debit accounts in alphabetical order, Enter all credit accounts in alphabetical order. Date Account Title and Explanation Debit Credit Jan 1 Accumulated Depreciation Cash Equipment Gain on Disposal of Asset To record sale of equipment for cash ) Using the same purchase information at the beginning of the question prepare the table assuming that the company used double declining-balance depreciation. Year Net Book Value at the Beginning of the Year Depreciation Expense Accumulated Depreciation Net Book Value at the End of the Year 2017 2018 2019 2020 d) Using the same purchase information and residual value at the beginning of the question, assume that the company uses the units-of-production method The asset can produce one million units. Prepare the depreciation table. Year Cost of Long Term Asset Units Produced Depreciation Expense Accumulated Depreciation Net Book Value 2017 s80,000 240,000S 2018 S80,000 200,000 2019 $80,000 200,000 2020 580 000 170,000