Financial Statements Analysis Online Assignment Question #4 HomeBox Inc. a fumiture whole seller acquired new machine at a cost of $120,000 at the beginning of the fiscal year. The equipment as an estimated life of five year and an estimated residual value of $12,000. President of HomeBox has requested information regarding alternative depreciation methods. Expected useful life of machine is 12,000 hours. Actual annual hourly operations of the machine is as below: Year Hours Used 2016 3600 Hours 2017 2800 Hours 2018 2200 Hours 2019 2000 Hours Required: a) Calculate yearly deprecation amount and the accumulated depreciation amount under the following methods; i) Straight line method ii) Reducing balance method ii) Double declining method iv) Units of activity method ) Sum of year digit method Page 5 of 5