Golden Fried Chicken bought equipment on January 2, 2024, for $30,000. The equipment was expected to remain in service for four years and to operate for 4,800 hours. At the end of the equipment's useful life, Golden estimates that its residual value will be $6,000. The equipment operatod for 480 hours the first year, 1,440 hours the second year, 1,920 hours the third year, and 960 hours the fourth year Read the requirements. Requirement 1. Prepare a schedulo of depreciation expense, accumulated depreciation, and book value por year for the equipment under the three depreciation methods; straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schodulos must be prepared. Begin by preparing a depreciation schedule using the straight-line method. Begin by preparing a depreciation schedule using the straight-line method. hicken bought equipment on January 2,2024 , for $30,000. The equipment was expected t in of the equipment's useful life, Golden estimates that its residual value will be $6,000. Th d year, 1,920 hours the third year, and 960 hours the fourth year. Requirements 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. 2. Which method tracks the wear and tear on the equipment most closely