QUESTION 1 Jamel Ltd bought Equipment on 1st January 2017 for 150,000. It is estimated that it will have a lifespan of 5 years after which it will have a resale value of 5,000. The company also bought second Equipment on 1st January 2018 for 130,000. It is estimated that it will have a lifespan of 4 years after which it will have a resale value of 2,000. Lastly, the company bought a third Equipment on 14 July 2019 for 83,000. It is estimated that it will have a life span of 6 years after which it will have a resale value of 5000. A full year depreciation is to be charged on this vehicle in the year of acquisition. Required: i) Using the straight line method of depreciation, calculate the depreciation to be charged for each of the years 2017, 2018 and 2019. (15 marks) ii) Prepare a Balance Sheet extract reflecting the Vehicles and their depreciation as at the end of 2017