HeyululUIIULUI The following information applies to the questions displayed below. Nicole's Getaway Spa (NGS) purchased a hydrotherapy tub system to add to the wellness programs at NGS. The machine was purchased at the beginning of the year at a cost of $7,000. The estimated useful life was five years and the residual value was $500. Assume that the estimated productive life of the machine is 13,000 hours. Expected annual production was year 1, 3,100 hours, year 2, 2,500 hours, year 3, 3,400 hours; year 4, 2,200 hours, and year 5, 1,800 hours. Required: 1. Complete a depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. 2. Assume NGS sold the hydrotherapy tub system for $2,100 at the end of year 3. Prepare the journal entry to account for the disposal of this asset under the three different methods. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3. Assume NGS sold the hydrotherapy tub system for $2,100 at the end of year 3.The following amounts were forecast for year 3: Sales Revenues $42,000; Cost of Goods Sold $33,000; Other Operating Expenses $4,000; and Interest Expense $800. Create an income statement for year 3 for each of the different depreciation methods, ending at Income before Income Tax Expense. (Don't forget to include a loss or gain on disposal for each method.). (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 1C Complete a depreciation schedule for units-of-production method. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Year Depreciation Expense Accumulated Depreciation Book Value $ $ $ $ At Acquisition Year 1 Year 2 Year 3 Year 4 Year 5 1,550 1,250 1,700 1,100 900 7,000 1,550 X 1,250 X 1,700 X 1,100 X 500 Reg 1A Reg 1B Req 1C Complete a depreciation schedule for double-declining-balance method. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Year Depreciation Expense Accumulated Depreciation Book Value At Acquisition Year 1 Year 2 Year 3 Year 4 Year 5 $ $ $ $ $ 2,800 1,680 1,008 605 407 Cash Accumulated Depreciation Loss on Disposal Equipment OOOO 2,100 4,500 400 7,000 X Cash Accumulated Depreciation Gain on Disposal Equipment 588 2,100 5,488 NICOLE'S GETAWAY SPA (Forecasted) Income Statement For the Year Ended Year 3 Straight-Line Units-of- Production Double- Declining Balance 00 Operating Expenses: Total Operating Expenses 00 1000