Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $31,000. The estimated useful life was five years and the residual value was $3,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production was year 1, 2,000 units; year 2, 3,000 units; year 3, 2,000 units; year 4, 2,000 units; and year 5, 1,000 units. Required: 1. Complete a depreciation schedule for each of the alternative methods. a. Straight-line. b. Units-of-production. c. Double-declining-balance. 2. Which method will result in the highest net income in year 2? Does this higher net income mean the machine was used more efficiently under this depreciation method? Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 1C Reg 2A Req 2B Complete a depreciation schedule for Straight-line method. (Do not round intermediate calculations.) Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 Req 1A Req 1B Req 1C Req 2A Req 2B Complete a depreciation schedule for Double-declining-balance method. (Do not round intermediate calculations. Round final answers to the nearest whole dollars.) Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 Reg 1A Req 1B Req 1C Reg 2A Req 2B Complete a depreciation schedule for Units-of-production method. (Do not round intermediate calculations.) Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 Req 1A Req 1B Req 1C Req 2A Req 2B Which method will result in the highest net income in year 2? O Units-of-production O Double-declining-balance O Straight-line Req 1A Req 1B Req 1C Req 2A Req 2B Does this higher net income mean the machine was used more efficiently under this depreciation method? O Yes O No