On July 1, 2010, Sparks Company purchased for $2,160,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $90,000. Depreciation is taken for the portion of the year the asset is used. Instructions (a) Complete the form below by determining the depreciation expense and year-end book values for 2010 and 2011 using the 1. sum-of-the-years'-digits method. 2. double-declining balance method. Sum-of-the-Years'-Digits Method 2010 2011 Equipment $2,160,000 $2,160,000 $2,160,000 Less: Accumulated Depreciation _________ _________ Year-End Book Value _________ _________ Depreciation Expense for the Year _________ _________ Double-Declining Balance Method Equipment $2,160,000 $2,160,000 Less: Accumulated Depreciation _________ _________ Year-End Book Value _________ _________ Depreciation Expense for the Year _________ __________ (b) Assume the company had used straight-line depreciation during 2010 and 2011. During 2012, the company determined that the equipment would be useful to the company for only one more year beyond 2012. Salvage value is estimated at $120,000. Compute the amount of depreciation expense for the 2012 income statement