Part I (18 marks) Sunshine Company purchased a machine on 20 September 2018 at a cost of $320,000 with an estimated residual value of $10,000. The estimated useful life of this machine was eight years. The estimated total operation output was 100,000 hours. Compute the annual depreciation expense of the machine at the year-end on 31 December for 2018 and 2019 by using the methods below (show your workings and round the answers to integer): (i) Straight-line method (with depreciation calculated to the nearest whole month), (ii) Unit-of-output method (7,000 hours in 2018; 9,500 hours in 2019), (iii) 150%-declining-balance method (with full year depreciation in the acquisition year). (i) Straight-line Method (ii) Units-of-output (iii) 150%-declining- Method balance method Year Depreciation expense Depreciation expense Depreciation expense 2018 2019 Part II (10 marks) On 2 June 2016, Snow Company purchased an equipment for $125,000 with an estimated useful of 5 years and an estimated residual value $8,000. On 31 May 2020, the Company sold the equipment for $30,000 cash. The Company uses straight-line depreciation method with half-year convention and adjusts its accounts annually with the year-end on 31 December