Requirements 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared. 2. Which method tracks the wear and tear on the equipment most closely? Print Done ] Golden Fried Chicken bought equipment on January 2, 2018, for $42,000. The equipment was expected to remain in service for four years and to operate for 7,200 hours. At the end of the equipment's useful life, Golden estimates that its residual value will be $6,000. The equipment operated for 720 hours the first year, 2,160 hours the second year, 2,880 hours the third year, and 1,440 hours the fourth year. Read the cosurements Requirement 1. Prepare a schedule of depreciation expense accumulated depreciation, and book value per year for the equipment under the three depreciation methods straight-line, units of production, and double-declining balance. Show your computations. Note: Three depreciation schedules must be prepared Begin by preparing a depreciation schedule using the straight-line method Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cont Cost Expens Depreciation Value 1-2-2018 12-31-2018 12-31-2019 12-11-2020 12-31-2021