Question No. 2: (2+2 Marks) On January 1, 2019, Engro Corporation acquired equipment for PKR26,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is PKR2,000. A) Prepare depreciation schedule for 3 years, if Engro Corporation uses unit-of-activity method of depreciation. Equipment used for 10,000 hours in Year 1, 15,000 hours in Year 2 and 5,000 hours in Year 3. Year Cost Depreciation Expense Accumulated Depreciation Book Value B) Prepare depreciation schedule for 3 years, if Engro Corporation uses double declining balance method of depreciation