Swanson & Hiller, Inc., purchased a new machine on September 1 of the current year at a cost of $119,000. The machine's estimated useful life at the time of the purchase was five years, and its residual value was $9,000. The company reports on a calendar year basis Required: a-1. Prepare a complete depreciation schedule, beginning with the current year, using the straight-line method. (Assume that the half- year convention is used). a-2. Prepare a complete depreciation schedule, beginning with the current year, using the 200 percent declining-balance method. (Assume that the half-year convention is used). a-3. Prepare a complete depreciation schedule, beginning with the current year, using the 150 percent declining-balance, switching to straight-line when that maximizes the expense. (Assume that the half-year convention is used). b. Which of the three methods computed in part a is most common for financial reporting purposes? c. Assume that Swanson & Hiller sells the machine on December 31 of the fourth year for $29,500 cash. Compute the resulting gain or loss from this sale under each of the depreciation methods used in part a Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req A3 Req B Req C Prepare a complete depreciation schedule, beginning with the current year, using the straight-line method. (Assume that the half-year convention is used). Depreciation Expense Accumulated Depreciation Year Book Value 1 2 4 5 6 Reg A2 Prev 4 of 5 Next> Complete this question by entering your answers in the tabs below Req A1 Req A2 Req A3 Req B Reg C Prepare a Assume that the half-year convention is used). (Round your answers to the nearest dollar amount.) complete depreciation schedule, beginning with the current year, using the 200 percent declining-balance method. Depreciation Expense Year Accumulated Book Value Depreciation 1 2 6 to search Complete this question by entering your answers in the tabs below Req A1 Req A2 Req A3 Req B Req C Which of the three methods computed in part a is most common for financial reporting purposes? Which method would probably used for financial reporting purposes? Req A3 Req C e to search J JUle unuel eaeh of the depreciation methods used in part a e Tuuu yeadr for $29,500 cash. Compute the re Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req A3 Req B Req C Assume that Swanson & Hiller sells the machine on Decembery31 of the fourth year for $29,500 cash. Compute the resulting gain or loss from this sale under each of the depreciation methods used in part a. (Use rounded book values for calculations. Round your final answers to the nearest whole dollar.) Straight-Line 200 percent declining-balance 150 percent declining-balance