Hearty Fried Chicken bought equipment on January 2, 2024, for $42,000. The equipment was expected to remain in service for four years and to operate for 12,000 hours. At the end of the equipment's useful life, Hearty estimates that its residual value will be $6,000. The equipment operated for 1,200 hours the first year, 3,600 hours the second year, 4,800 hours the third year, and 2,400 hours the fourth year. Read the requirements ... Requirements alue per year for the equipment under the three depreciation methods: straight-line, units-of-production, and pared. 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? Book Value Print Done 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 Depreciation for the Year Asset Depreciable Useful Accumulated Book Depreciation Expense Date Cost Cost Life Depreciation Value 1-2-2024 12-31-2024 = 12-31-2025 12-31-2026 12-31-2027 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. Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Date Cost Per Unit Units Expense 1-2-2024 Accumulated Book Depreciation Value 12-31-2024 12-31-2025 X 12-31-2026 12-31-2026 X 12-31-2027 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 Depreciation for the Year Asset Book DDB Depreciation Date Cost Value Rate Expense 1-2-2024 Accumulated Book Depreciation Value 12-31-2024 12-31-2025 = 12-31-2026 12-31-2027 - Asset Book Depreciation for the Year DDB Depreciation Accumulated Rate Expense Depreciation Book Data Valen Value 12 X double-declining-balance 11 X 12 straight-line 12 Il units-of-production Reqi wear and tear on the equipment most closely? method tracks wear and tear most closely. The