Papa's Fried Chicken bought equipment on January 2, 2024, for $21,000. The equipment was expected to remain in service for four years and to operate for 3,600 hours. At the end of the equipment's useful life, Papa's estimates that its residual value will be $3,000. The equipment operated for 360 hours the first year, 1,080 hours the second year, 1,440 hours the third year, and 720 hours the fourth year. Read the requirements Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three denreciation methods. straight line units.of.nroduction and double declining balance Show your computations. Note: Three depreciation schedules must be prepared. Begin by preparing a depreciation schedule using the straight-line method. Requirements Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared. 2. Which method tracks the wear and tear on the equipment most closely? Date Cost Cost Life Expense Depreciation Value 1-2-2024 12-31-2024 - - 12-31-2025 12-31-2026 Print Done 12-31-2027 Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amoums ariu calculate CIE UEPIECIALIUIT EXPENISE Per um. Depreciation per unit Prepare a depreciation schedule using the units-of-production method. Units-of-Production Depreciation Schedule Danraainsinn fartha Vaar