The company founder hires us as consultants and asks that we oversee the accounting for new equipment purchased on January 1. The founder wants to know the implications of different depreciation methods and estimates for the company's financial statements. Those statements will be used to attract financing from new investors and creditors. At the end of the equipment's first year in operation, we are given the following Tableau Dashboard Estimated Useful Life of Assets Purchase Price & Estimated Salvage Value Building Equipment Truck $70,000 20 16 $60,000 15 years $50,000 12 $70,000 $40,000 Years $30,000 6 years 4 years $20,000 $30,000 $40,000 $10,000 $30,000 $5,000 $10,000 $0 0 Building Purchase Salvage Purchase Salvage Purchase Salvage Price Value Price Value Price Value Equipment Truck Actual & Estimated Units-of-Production Year 1 Production Actual 35,000 units Year 2 Production Estimated 55,000 units Year 3 Production 25,000 units Estimated Year 4 Production 5,000 units Estimated 0 25,000 50,000 100,000 125,000 75,000 Total Units to be produced tableau TO Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 2 Required 3 Required 4 Which method in part 1 results in the highest net income in the first year? Which method in part 1 results in the highest net income in the first year?