More info On January 4, 2018, Ruiz Enterprises, Inc., paid \$235,000 for equipment used in manufacturing automotive supplies. In addition to the basic purchase price, the company paid $700 for transportation charges, $100 for insurance for the equipment while in transit, $11,100 sales tax, and $3,100 for a special platform on which to place the equipment in the plant. Management of Ruiz Enterprises, Inc., estimates that the equipment will remain in sorvice for five years and have a residual value of $25.000. The equipment will produce 60.000 units the first year, with annual production decreasing by 5,000 units during each of the next four yoars (1.e., 55,000 units in year 2; 50,000 units in year 3; and so on, for a total of 250,000 unita). In trying to decide which depreciation method to use, Ruiz Enterprises, Inc., requested a dopreciation schedule for each of the three depreciation methods (straight-line, units of production, and double-declining balance). Requirement 1. For each depreciation method, prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciation, and asset book value for each year of the asset's life. For the units of production method, round depreciation per unit to three decimal places. Before completing the straight-line depreciation schedule, calculate the straight-line depreciation rate. Complete the Straight-Line Depreciation Schedule. Begin by filling out the schedule through 2019 , and then complete the schedule by entering the amounts through 2022 . Complete the Straight-Line Depreciation Schedule. Begin by filling out the schedule through 2019, and then complete the schedule by entering the amounts through 2022 . Before completing the units of production (UOP) depreciation schedule, calculate the depreciation expense per uni (Round depreciation per unit to three decimal places.) Complete the Units of Production Depreciation Schedule. Begin by filling out the schedule through 2019, and then complete the schedule by entering the amounts through 2022. (Enter depreciation per unit to three decimal places.) Before completing the double-declining balance (DDB) schedule, calculate the double-declining balance rate. SLDepreciationrateDDBratemultiplierDDBrate= Complete the Double-Declining Balance Depreciation Schedule. Begin by filling out the schedule through 2019, and then complete the schedule by entering the amounts through 2022 . identry the deprecianon metnoas inat meet ruiz tnterprises oojectives, assuming the income tax autnonives perrmit th use of any method. The depreciation method that maximizes reported net income in the first year of the computer's life is the method, which produces the depreciation for that year. The method that minimiz income taxes in the first year is the method, which produces the depreciation amount for that year. Requirement 3. Show how Ruiz Enterprises, Inc., would report equipment on the December 31, 2018, balance sheet for each depreciation method