I need the answer please show the work

ALL WORK MUST BE DONE IN EXCEL. YOU MUST SHOW YOUR WORK TO RECEIVE FULL CREDIT On January 1, 2020, Stanley Corporation, a Sporting Goods Company purchased a Plant Equipment for $169,500. The Corporation expects the equipment to last for 8 years and produce 20,000 hours of work with an estimated residual value of $9,500 at the end of that time. The machine produced the following hours of work over the following years: 2020 1,000 hours; 2021 1,500 hours; 2022 - 1,800 hours; 2023 - 2,200 hours and 2024 - 2,500 hours. The Company's year-end is Dec. 31 (a) Prepare journal entry to record the acquisition of the equipment on January 1, 2020. (10 points)