Pool Corporation, Incorporated, is the world's largest wholesale distributor of swimming pool supplies and equipment. Assume Pool Corporation purchased for cash new loading equipment for the warehouse on January 1 of Year 1 , at an involice price of $78,000. It also paid $5,000 for freight on the equipment, $4,300 to prepare the equipment for use in the warehouse, and $1,300 for insurance to cover the equipment during operation in Year 1 . The equipment was estimated to have a residual value of $6,300 and be used over three years or 27,000 hours. Required: 1. Record the purchase of the equipment, freight, preparation costs, and insurance on January 1 of Year 1. 2. Create a depreciation schedule assuming Pool Corporation uses the straight-line method. 3. Create a depreciation schedule assuming Pool Corporation uses the double-declining-balance method. 4. Create a depreciation schedule assuming Pool Corporation uses the units-of-production method, with actual production of 9,000 hours in Year 1; 8.400 hours in Year 2; and 9.600 hours in Year 3. 5. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $27,200. Record the sale of the equipment assuming the company used the straight-line method. Complete this question by entering your answers in the tabs below. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $27,200. Record the sale of the equipment assuming the company used the straight-line method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answer to nearest whole doliar. Answer is not complete. Complete this question by entering your answers in the tabs below. On December 31 of Year 2 before the year-end adjustments, the equipment was sold for $27,200. Record the sale of the equipment assuming the company used the straight-line method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fieid. Do not roun intermediate calculations. Round your final answer to nearest whole dollar