Southern Fried Chicken bought equipment on January 2, 2018, for $18,000. The equipment was expected to remain in service for four years and to operate for 3,750 hours. At the end of the equ life, Southern estimates that its residual value will be $3,000. The equipment operated for 375 hours the first year 1,125 hours the second year, 1.500 hours the third year, and 750 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 ine, unts-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 ine method Straight-Line Depreciation Schedule Depreciation for the Year Asset Date Cost Depreciable Cost Useful Life Depreciation Accumulated Depreciation Expense Book Value 1-2-2018 12-31-2018 1231-2010 12-31-2020 12-31-2021