Local Constructions Ltd purchased a truck costing $153,500. The truck was shipped to the company at a cost of $2,500. It is expected to have a residual value of $9,500 at the end of its useful life of 10 years or 330,000 kilometres. The fim's finandal year ends on 31 December each year. Ignore GST. Required: a) Assume the truck was purchased on 1 January 2019 and that the accounting period ends on 31 December. Calculate the depreciation expense for the third year using each of the following depreciation methods (6 marks) straight-line diminishing balance (depreciation rate has been calculated as 25%) units of production (assume the truck was driven 50,000 km, 90,000 km, 88,000 km respectively in year 1, 2 and 3). b) Prepare the relevant section of the financial statement that shows how the truck would appear in the financial statement prepared at the end of the 34 financial year using the straight-line method. (2 marks)