Golden Fried Chicken bought equipment on January $2,2024,$ for $$18,000.$ The equipment was expected to remain in service for four years and to operate for $3,000$ hours. At the end of the equipment's useful life, Golden estimates that i residual value will be $$3,000.$ The equipment operated for $300$ hours the first year, $900$ hours the second year, $1,200$ hours the third year, and $600$ hours the fourth year.

Read the equirements.

Requirement $1.$ Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight$-$line, units$-$of$-$production, and double$-$declining$-$balance. Show your computations. Note: Three depreciation schedules must be prepared.

Begin by preparing a depreciation schedule using the straight$-$line method.

Straight$-$Line Depreciation Schedule