Problem 6.2 On May 6, 20X3, Custom Designs, Inc. purchased equipment for $93,000 which had an estimated salvage value of $5,000 and an estimated life of 5 years. Custom Designs, Inc. uses the half-year convention in all depreciation expense calculations. a) Complete the schedule below for all years of the equipment's life: Straight-line method applying the half-year convention Cost less Annual Rate Partial Annual Accumulated Book Year Salvage Value of Depreciation Year Depreciation Expense Depreciation Value b) Complete the schedule below for all years of the equipment's life: 200% DDB Method Applying the Half-Year Convention Declining Annual Rate of Annual Accumulated Year Balance Depreciation Depreciation Expense Depreciation Book Value c) Complete the schedule below for all years of the equipment's life: 150% DB Depreciation Method Applying the Half-Year Convention Declining Annual Rate of Annual Accumulated Book Year Balance Depreciation Depreciation Expense Depreciation Value d) Show the presentation in the statement of financial position as of December 31, 20X5, of the equipment when (1) the straight-line method is used, (2) the double-declining-balance method is used, and (3) the 150% declining balance method is used. e) Suppose the equipment was sold on April 25, 20X6, by Custom Designs, Inc. for $35,000. Determine gain or loss on sale and prepare journal entries to record the sale assuming (1) the straight-line method is used, (2) the double-declining-balance method is used, and (3) the 150% declining balance method is used