Please, excel file if possible

Below the stochkolders equity section at January 1 , 2020 of Simpson, Ltd.

Common stock -100.000

$5 par value

Additional paid in capital - 1.000.000

retained earnings - 15.000

st On February 1 , the company purchases a new machinery for $250.000

The useful life is estimated to 6 years and the salvage value to $10,000 To finance this acquisition the company takes a five years loan for $250.000. The loan bears 10% interests and will be repaid through yearly installment payments of $66.000 every 31st of December On 1st of June the company purchased 2.000 of its own stock for $17 per stock On 17th of September the company reissued 1.500 of its own stock at a price of $18 per share During the year 2020 Simpson Ltd obtained earnings before interest, tax and depreciation of the new asset of $125.000 Tax rate is 25%

1. Prepare a complete depreciation schedule for the new machinery assuming that the company uses the straight line method for depreciation purposes (20 points)

2. Prepare a complete depreciation schedule for the new machinery assuming that the company uses the 200% declining balance method for depreciation purposes (20 points)

3. Prepare the journal entries to record the first installment payment made by the company at December 31, 2020 and calculate the unpaid balance of the loan at December 31, 2020 (20 points)

4. Record the transactions related to treasury stocks (20 points)

5. Calculate the maximum dividend per share of common stock that could be paid after the closing of year 2020 (20 points)