Please use excel formula and reference cells, instead of entering values for all three tables.

4 6 1 2. Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 3 Cost: $150,000 5 Estimated Residual: $10,000 Estimated Life in years: 4 7 Estimated Life in hours: 1200 8 Actual Hours: 9 Year 1 360 10 Year 2 270 11 Year 3 350 12 Year 4 220 13 14 Required: 15 1. Prepare the following Straight-Line depreciation schedule by using the Excel SLN function to calculate Depreciation Expense 16 and entering formulas for the remaining cells. Use absolute cell references when appropriate. 17 18 (Use cells A4 to B12 from the given information to complete this question.) 19 18 (Use cells A4 to B12 from the given information to complete this question.) 19 20 SULLIVAN RANCH CORPORATION 21 Depreciation Schedule-Straight-Line Method 22 End of year amounts Depreciation Accumulated 23 Year Expense Depreciation Book Value 24 1 25 2 26 3 27 4 28 Total 29 29 30 2. Prepare the following Activity Based depreciation schedule by entering formulas. Use absolute cell references when appropriate. 31 32 (Use cells A4 to B12 from the given information to complete this question.) 33 34 SULLIVAN RANCH CORPORATION 35 Depreciation Schedule Activity Based Method 36 End of year amounts Depreciation Accumulated 37 Year Expense Depreciation Book Value 38 1 39 2 40 3 41 4 42 Total 43 44 3. Prepare the following Double-Declining-Balance depreciation schedule by using the Excel DDB function to calculate 45 Depreciation Expense and entering formulas for the remaining cells. Use absolute cell references when appropriate. 46 47 (Use cells A4 to B12 from the given information to complete this question.) 48 49 50 51 52 53 54 55 56 57 58 SULLIVAN RANCH CORPORATION Depreciation Schedule-Double-Declining-Balance Method End of year amounts Depreciation Accumulated Year Expense Depreciation Book Value 1 (150000-10005\/1200*360 2 3 4 Total