Hearty Fried Chicken bought equipment on January 2, 2018, for $21,000. The equipment was expected to remain in service for four years and to operate for 6,000 hours. At the end of the equipment's useful life, Hearty estimates that its residual value will be $3,000. The equipment operated for 600 hours the first year, 1,800 hours the second year, 2,400 hours the third year, and 1,200 hours the fourth year. Read the requirements. 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 i Requirements Asset Cost Book Depreciation for the Year Depreciable Useful Depreciation Life Expense Accumulated Accumulated Depreciation Date Cost Value 1-2-2018 12-31-2018 12-31-2019 12-31-2020 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? Print Done 12-31-2021 Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. = Depreciation per unit Prepare a depreciation schedule using the units-of-production method. Prepare a depreciation schedule using the units-of-production method. Units-of-Production Depreciation Schedule Asset Cost Depreciation for the Year Depreciation Number of Depreciation Per Unit Units Expense Accumulated Depreciation Book Value Date 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "0" for any items with a zero value.) Double-Declining-Balance Depreciation Schedule Asset Cost Book Value Depreciation for the Year DDB Depreciation Rate Expense Accumulated Depreciation Book Value Date 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Requirement 2. Which method tracks the wear and tear on the equipment most closely? The method tracks wear and tear most closely