Some transactions related the non-current assets of VENUS Company that are described as follows: Equipment, use for selling department Purchase price, $580,000 Expenditures required to test the equipment and prepare it for ready to use, $70,000. Expected to be used for 5 years, with a residual value at the end of that time of $100,000. VENUS depreciates equipment by the declining-balance method at 150 percent of the straight-line rate Instructions a. Prepare depreciation schedules of above equipment for first 3 years. b. Prepare journal entries to record depreciation for the first year c. At the beginning of 4th year, equipment was sold for $280,000. Prepare journal entries to record this disposal of equipment.