Sullivan Ranch Corporation has purchased a new tractor and has provided you with information about the purchase. The controller has asked you to calculate the depreciation for the new piece of equipment using three different methods: straight$-$line, units$-$of$-$production, and double$-$declining$-$balance.

Cost: $$150,000$

Estimated residual value: $$10,000$

Estimated life in years: $4$

Estimated life in hours: $1,200$

Actual hours used:

Year $1360$

Year $2270$

Year $3350$

Year $4220$

Here are some tips for using Excel:

Cell References: Never type a number from an Excel sheet elsewhere in the sheet. Instead, type an equals sign and then click the cell that includes the number. For example, $=$B$5$ would return the number from B$5.$

Basic Math Functions: Use symbols $(+-*/)$ to add, subtract, multiply, and divide in Excel. Do not do any calculations by hand.

SUM Function: This function sums multiple cells. You can enter individual cell references or ranges. For example, $=$SUM$($C$4,$C$5,$C$6)$ and $=$SUM$($C$4$:C$6)$ will both return the value of C$4+$C$5+$C$6.$

SLN Function: This function calculates depreciation expense using the straight$-$line method. The syntax of the SLN function is $=$SLN$($cost$,$salvage,life$).$ Enter the asset's cost, salvage value, and useful life.

DDB Function: This function calculates depreciation expense using the double$-$declining balance method. The syntax of the DDB function is $=$DDB$($cost$,$salvage,life,period$).$ Enter the asset's cost, salvage value, useful life, and the period number you are calculating depreciation for.

Required:

$1.$ Prepare the following depreciation schedule using the SLN function.

You must use absolute cell references $($$$)$ if a cell reference is repeated multiple times across different cells' formulas.

SULLIVAN RANCH CORPORATION

Depreciation Schedule: Straight$-$Line Method

End$-$of$-$Year Amounts

Year Depreciation Expense Accumulated Depreciation Book Value

Need the SLN accumulated Depreciation formula