Please help to check whether the answer is correct. I cannot get the right answer to the last balance sheet. Thank you!!!

Requirement 1. Journalized the entries and post to the F/S for year 1,2,3. Note that all the journal entries must be linking to F/S. Directly typing the values on the F/S is accounting fraud that will result in significant point reduction. 10 Cash 5 PPE Information. B/S, as of 12/31/x1 B/S, as of 12/31/x2 B/S, as of 12/31/x3 On 1/1/x1, XYZ Company purchased a machine for cash and recognized Assets Liablities Assets Liablities Assets Liablities Double Declining Balance (DDB) Depreciation based on the information below. Cash 76,000 Notes 200,000 76,000 Notes 200,000 Cash 184,000 Notes 200,000 Original Cost of the machine 124,000 Estimated Residual Value 4,000 Machine 124,000 Equities Machine 124,000 Equities Machine Equities Estimated useful life (years) 6 (Acc. Depr.) (41 333 (Acc. Depr.) (68,889) (Acc. Depr.) Machine, net 82,667 R/E (41 333) Machine, net 55 111 R/E (68,889) Machine, net R/E (64,000) DDB Depreciation Schedule for year 1 & 2 Date Depr. Expense Acc. Depr. Book Value Total A 158,667 Total L + E 158,667 Total A 131,111 Total L + E 131 111 Total A 184,000 Total L + E 136,000 1/1/x1 124,000 12/31/X1 41,333 41,333 82,667 12/31/2 27,556 68,889 55,111 1/5, for the year ended 12/31/x1 I/S, for the year ended 12/31/x2 I/S, for the year ended 12/31/x3 Sales Sales Sales Journal Entry of the machine trasactions & adjustments. (Cost of Goods Sold) (Cost of Goods Sold) (Cost of Goods Sold) Assume there are no other transactions. = Gross Profit = Gross Profit = Gross Profit 1/1/x1, puchased the machine (Operating Exp) (41 333) (Operating Exp) (27,556) (Operating Exp) Dr. Account ($) Cr. Account ($) = Operating Income (41,333) = Operating Income (27,556) = Operating Income Machine 124,000 Cash 124,000 Other Revenue & Gain Other Revenue & Gain Other Revenue & Gain 4,889 (Other Expense & Loss) (Other Expense & Loss) (Other Expense & Loss) 12/31/x1, Adjustment entry for Depreciation of the machine = Income before tax (41,333) = Income before tax (27,556) = Income before tax 4,889 preciation Expense 41,333 pulated Depriciation 41,333 (Tax: ignore tax expense) (Tax: ignore tax expense) (Tax: ignore tax expense) = Net Income (41,333) = Net Income (27,556) = Net Income 4,889 12/31/x2, Adjustment entry for Depreciation of the machine preciation Expense 27,556 bulated Depriciation Requirement 2. (1) Describe the DDB method effects to the Tax Expenses & Net Income, comparing with the Straight Line Method. (2) When then can DDB method be used? What accounting priniciple should be applied with this method. 1/1/X3, sold the machine at the market price for $60,000 lated Depriciation 68,889 Machine 124,000 Cash 60,000 on sale of Machine 4,889 5 27,556 5