EXCEL SKILLS: Use 'accounting' format with no decimal places. Include dollar signs and single and double underlines as needed. Use formulas and cell referencing for calculations. Use Excel's SLN function to calculate straight-line depreciation and the DOB function to calculate double-declining-balance depreciation. Problem Information ET Sports Company, a manufacturer of sports equipment reports no depreciation . In the Year an asset is purchased. In the year an asset is retired , a full year of depreciation. Is recorded. The following data relates to the plant and equipment account for ET Sports Company.REQUIRED: 1. Calculate the total depreciation expense for the calendar gear 2005. REQUIRED 2. Calculate total accumulated depreciation as of December 31. 2005. REQUIRED: 3. Before recording depreciation in 2006, assume that ET Sports decides that Asset B has a remaining life of 2 gears. Record all entries necessary in 2006 to reflect depreciation expense that includes the revision in useful life on Asset B