Seconds Fried Chicken bought equipment on January 2, 2024, for $36,000. The equipment was expected to remain in service for four years and to operate for 10,000 hours. At the end of the equipment's useful life, Seconds estimates that its residual value will be $6,000. The equipment operated for 1,000 hours the first year, 3,000 hours the second year, 4,000 hours the third year, and 2,000 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 Asset Depreciable Date Cost Cost 1-2-2024 $ 36,000 12-31-2024 Depreciation for the Year Useful Life Depreciation Accumulated Book Expense Depreciation Value $ 36,000 12-31-2025 12-31-2026 12-31-2027 Get more help- 4 years 4 years 4 years 4 years 6,000 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? Check