Preparing Depreciation Schedules Using Various Depreciation Methods Frito Inc. acquired equipment on January 1, 2020, at a cost of $12,000 that is estimated to have a useful life of five years and a residual value of $3,000. Required Prepare a depreciation schedule showing annual depreciation expense and year-end accumulated depreciation and book value over the life of the asset using the following methods. a. Straight-line method. b. Sum-of-the-years'-digits method. C. Double-declining-balance method. Straight-line Sum-of-the-years'-digits Double-declining balance c. Double-Declining-Balance Depreciation Method For the Period End of Period Reporting Depreciation Accumulated Book Period Expense Depreciation Value Jan. 1, 2020 Dec. 31, 2020 $ Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2024