Plastic Works Corporation bought a machine at the beginning of the year at a cost of $12,000. The estimated useful life was five years. and the residual value was $2,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production was year 1, 3,000 units: year 2, 3,000 units: year 3.2,000 units: year 4. 1.000 units; and year 5, 1,000 units. Required: 1. complete a depreciation schedule for each of the alternative methods. (Enter all values as positive amount.) a. Straight-line. Income Statement Depreciation Expense Balance Sheet Accumulated Depreciation Year Gout Bou $ Al acquisition 1 $ 2 3 4,000 $ 22,000 $ 4,000 18,000 4,000 14.000 4,000 10,000 4,000 6,000 4,000 8,000 12,000 16,000 20,000 22.000 18,000 14.000 10,000 6,000 2.000 4 5 b. Units-of-production. Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition $ 1 $ 2 4,000 $ 22,000 $ 4,000 18,000 4,000 14,000 4,000 10,000 4,000 6,000 3 22,000 18,000 14,000 10,000 6,000 2,000 4,000 8,000 12,000 16,000 20,000 4 5 Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition 1 $ DOK 2 8,800 $ 22,000 $ 5,280 13,200 3,168 7,920 1,901 4,752 8,800 14,080 17.2 19,149 13,200 7.920 4,752 2,851 3 int 4 ences 2-a. Which method will result in the highest net income in year 2? Straight-line O Double-declining-balance Units-of-production