Score: 0 of 1 pt 5 of 5 (5 complete) HW Score: 80%, 4 of 5 pts X E9-20 (similar to) s Question Help Crackling Fried Chicken bought equipment on January 2, 2018, for $18,000. The equipment was expected to remain in service for four years and to operate for 3,000 hours. At the end of the equipment's useful life, Crackling estimates that its residual value will be $3,000. The equipment operated for 300 hours the first year, 900 hours the second year, 1,200 hours the third year, and 600 hours the fourth year. Read the requirements 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 Date Cost Cost Life Expense Depreciation 1-2-2018 $ 18,000 Book Value $ 18,000 $ 15,000 4 years $ 3,750 3,000 12-31-2018 12-31-2019 15,000/ 4 years 3,750 6,000 12,000 9,000 6,000 3,000 12-31-2020 15,000/ 4 years 3,750 9,000 12-31-2021 15,000 1 4 years 3,750 12,000