Pina Corporation purchased machinery on January 1, 2017, at a cost of $280,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $32,000. The company is considering different depreciation methods that could be used for financial reporting purposes.

^* Depreciation expense for 2020 under Double declining-balance is adjusted so that ending book value is equal to salvage value.

Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line STRAIGHT-LINE DEPRECIATION Computation End of Year Years Depreciable Cost x Depreciation Rate = Annual Depreciation Expense Accumulated Depreciation 2017 2018 2019 2020 Book Value DOUBLE-DECLINING-BALANCE DEPRECIATION Computation End of Year Years 2017 2018 2019 2020 Book Value Beginning of Year Depreciation Rate Annual Depreciation Expense Accumulated Depreciation Book Value 3,000