Pharoah Company purchased equipment on March 27, 2018, at a cost of $312.000. Management is contemplating the merits of using the diminishing-balance or units-of-production method of depreciation instead of the straight-line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $8.000 and an estimated useful life of either four years or 80,000 units. Demand for the products produced by the equipment is sporadic so the equipment will be used more in some years than in others. Assume the equipment produces the following number of units each year: 14 200 units in 2018: 20,000 units in 2019: 20,800 units in 2020: 20,000 units in 2021; and 5.000 units in 2022. Pharoah has a December year end. Prepare separate depreciation schedules for the life of the equipment using: (Round depreciation per unit to 2 decimal places, os. 5.28 and final answers to decimal places, eg. 5,275.) Straight-line method: Depreciable mount Depreciation Expense Accumulated Depreciation Carrying Amount Prepare separate depreciation schedules for the life of the equipment using: (Round depreciation per unit to 2 decimal places, es. 5.28 and final answers to decimal places, eg,5,275.) Straight-line method: Depreciable Amount Depreciation Expense Accumulated Depreciation Carrying Amount Year $ 312000 $ 25500C S 57000 57000 304000 2018 $ 179000 76000 133000 2019 304000 I 76000 209000 10300C 2020 304000 27000 285000 76000 2021 304000 BOOO 304000 19000 2022 30400 Double-diminishing-balance method: Opening Carrying Amount Depreciation Expense Accumulated Depreciation Carrying Amount ar 312000 $ 195000 $ 117000 18 $ 312000 117000 97500 97500 97500 19 195000 48750 48750 48750 20 97500 24375 24375 24375 21 48750 8000 16375 22 24375 16375 Compare the total depreciation expense and accumulated depreciation under each of the three methods over the life of the equipment. (Round answers to decimal places, eg. 5,275.) Double-Diminishing. Balance Straight-Line Units-of-Production Total depreciation expense $ Accumulated depreciation