On January 3, 2020, Xenex Innovations purchased computer equipment for $125,250. The equipment will be used in research and development activities for five years or a total of 8,500 hours and then sold for about $19,000. Prepare a schedule with headings as shown below. Calculate depreciation and book values for each year of the equipment's life for each method of depreciation. Xenex's year-end is December 31. Straight-Line Double Declining-Balance Units-of-Production* Depreciation Book Value at Expense Dec. 31 Depreciation Book Value at Expense Dec. 31 Depreciation Book Value at Expense Dec. 31 Year *Assume actual usage in hours of 2020 2021 2022 2023 2024 1350 1.780 2,400 2,980 2,700 Analysis Component: Which method will result in the greatest: a. Total assets being reported on the balance sheet in 2020? in 2023? b. Operating expenses being reported on the income statement in 2020? in 2023