PART II_(40 points) On 4/1/20, SYD Inc. purchased equipment for $220,000. The equipment had an estimated salvage value of $20,000 and an estimated useful life of 5 years. SYD Inc. uses the sum of the years digits depreciation method. On 1/1/23, when the equipment had a FMV of $100,000, SYD Inc exchanged it, receiving equipment with a FMV of $90,000 plus cash. INSTRUCTIONS A) Prepare a sum of the years digits depreciation schedule for the 5 year life of the equipment. Show how much is depreciated each calendar year. B) Prepare journal entries to record the exchange on 1/1/23 assuming 1) the exchange has commercial substance. 2) the exchange does not have commercial substance. Show all necessary backup calculations