Question 11 DEPRECIATION METHODS - UNITS OF PRODUCTION: 20 Points On May 1, 2020 Rats Be Gone, Inc purchased equipment for $230,000 that makes at traps. RBG also paid $2.000 for freight and $8,000 for installation The equipment is expected to last 5 years and have a salvage value of $30,000. ROG expects the equipment to produce a total of 500,000 rattraps The actual production in units is as follows: Year rat traps produced 2020 125,000 2021 140,000 2022 120,000 2023 85.000 2024 40,000 ***REQUIRED 1) What is the Asset cost? ***REQUIRED 2) Complete a Depreciation Schedule for the years 2020 - 2024 for the equipment using the UNITS OF PRODUCTION METHOD. Your answer should provide Depreciation Exp. Accum Depreciation, and NBV for the equipment for each year relevant. The actual production in units is as follows: Year rat traps produced 2020 125.000 2021 140,000 2022 120.000 2023 85,000 2024 40,000 ***REQUIRED 1) What is the Asset cost? ***REQUIRED 2) Complete a Depreciation Schedule for the years 2020 - 2024 for the equipment using the UNITS OF PRODUCTION METHOD. Your answer should provide Depreciation Exp, Accum Depreciation, and NBV for the equipment for each year relevant. ***REQUIRED*** 3) Show the Balance Sheet Presentation of the asset as of 12/31/2023. This will just be a partial view, you do not need to worry about the other areas of the balance sheet, or the heading. Just the amounts & titles related to this fixed asset