On January 1, Year 1, a company purchased equipment. The details of the equipment purchase are below. Required: 1. Based on the information above, calculate Depreciation Expense. Accumulatod Depreciation and the Book Value of the equipment, as well as the journal entry for deprecietion in Year 3 : (a) Using the Straight-line method (b) Using the Double-Declining-Balance method (c) Using the Activity-8ased method Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. On January 1 , Year 1 , a company purchased equipment. The details of the equipment purchase are below. Required: 1. Based on the information above, calculate Depreciation Expense, Accumulated Depreciation and the Book Value of the equipment, as well as the journal entry for depreciation in Year 3: 9. (a) Using the Straight-line method (b) Using the Double-Declining-8alance method (c) Using the Activity-Based method Requirement 1(a): Straight-line Method (Use cells A2 to 815 from the given information above to complete this question.) Graded Worksheet Adjusting entry for depreciation in Year 3 : Requirement 1(b): Double-Declining-Balance Method (Use cells A2 to B15 from the given information above to complete this question. Hint: Recall that the double-declining-balance rate is double the straight-line rate [ 2 (1/useful life)]. Be sure to include a reference to the useful life, cell 86 , in your formula for depreciation expense, Your formula for depreciation expense should ensure that book value does not go below estimated residual value.) Adjusting entry for depreciation in Year 3: Requirement 1(c): Activity-Based Method (Use cells A2 to B15 from the given information above to complete this question. Hint: Recall that the activity-based depreciation rate n depreciable cost / total estimated units. Be sure to include a reference to estimated units, cell B7, in your formula for depreciation expense. Your formula for depreciation expense should ensure that book value does not go below estimated residual value.) Adjusting entry for depreciation in Year 3: Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. Nothing in this area will be graded, but it will be submitted with your assignment