Q2. Elizabeth Company purchases a factory machine at a cost of $18,000 on January 1, 2021. Elizabeth expects the machine to have a salvage value of $2,000 at the end of its 4-year useful life. During its useful life, the machine is expected to be used 160,000 hours. Actual annual hourly use was 2021, 40,000; 2022, 60,000; 2023, 35,000; and 2024, 25,000. Requirements: [Marks: 12+3=15] i. Prepare depreciation schedules for the following methods: (a) straight-line, (b) units of activity, and (c) double declining-balance. Assume that at the end of useful life, the machine was sold for $3,000. Provide the relevant journal entry at the time of disposal of the asset. ii. 02 Cerere Infrastructure Company's boole Showcash balance at the Victoria Bank on November 20 2020