Question 1{15 marks} Balloon production Corp. purchased equipment on March 1, 2018 for $70,000. The company estimated the equipment would have a useful life of three years and produce 12,000 units in three years, with a salvage value of $10,000. During 2018, the equipment produced 4,900 units. On November 30, 2019, the equipment was sold for $18,000 after producing 5,600 units that year. Required a. Record all the necessary transactions for the year ended December 2018 and 2019, using the following depreciation methods: i. Straight line, ii. Double-declining balance, and iii. Units-of-production. b. Complete the following schedule for each method of depreciation. Round to the whole month