Multiple Take-home version NOTE: YOU MUST SHOW ALL YOUR CALCULATIONS ON EACH PROBLEM TO RECEIVE CREDIT! Problem 1 AZ Inc. purchased equipment on January 1 for $96,000. The straight-line method of depreciation is used. This equipment has an estimated salvage value of $6,000 and a four-year useful life. Show your work. a. How much would AZ report each year for depreciation expense? b. What is the total accumulated depreciation on Equipment at the end of year 3? C. What is the book value of the Equipment at the end of year 3? d. Circle the Financial Statement in which Equipment would be presented? Income Statement Balance Sheet Statement of Retained Earnings Statement of Cash Flows