Southern Fried Chicken bought equipment on January 2, 2016, for $15,000. The equipment was expected to remain in service for four years and to perform 4,000 fry jobs. At the end of the equipment's useful life, Southern estimates that its residual value will be $3,000. The equipment performed 400 jobs the first year, 1,200 the second year, 1,600 the third year, and 800 the fourth year. Requirements 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods. Show your computations. Note: Three depreciation schedules must be prepared. 2. Which method tracks the wear and tear on the equipment most closely? Requirement 1. Prepare schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods. 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 Depreciation Depreciation Accumulated Date Cost Cost Rate Expense Depreciation 1-2-2016 Book Value 12-31-2016 1 12-31-2017 1 = 12-31-2018 1 12-31-2019