Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $34,000. The estimated useful life was five years and the residual value was $4,000. Assume that the estimated productive life of the machine is 15,000 units. Expected annual production was year 1, 3,100 units; year 2, 4100 units; year 3, 3,100 units; year 4,3,100 units; and year 5. 1.600 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 Req1c Req 2A Reg 20 Complete a depreciation schedule for Straight-line method. (Do not round Intermediate calculations.) Income Statement Balance Sheet Year Depreciation Accumulated Cost Expense Depreciation Book Value At acquisition Vers in the tabs below. Req 1A Req 1B Req 1C Req 2A Req 2B Complete a depreciation schedule for Straight-line method. (Do not round intermediate ca Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 Rega Req 1B > efficiently under this depreciation method? Complete this question by entering your answers in the tabs below. Req 1A Reg 14 Reg 10 Req 2A Reg 2B Complete a depreciation schedule for Units-of-production method. (Do not round intermediate cald Balance Sheet Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 Req 1A Req 1B Req 10 Req 2A Req 2B ok + Complete a depreciation schedule for Double-declining-balance method. (Do not round interme answers to the nearest whole dollars.) ht Balance Sheet onces Income Statement Depreciation Expense Year Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 efficiently under this depreciation method? Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 2A Req 2B Which method will result in the highest net income in year 2? Units-of-production O Double-declining-balance Straight-line
