Upland Ltd purchased an equipment on 1 July 2018 for $ 102,400 in cash. It is estimated that the residual value of this equipment is $ 100 after its useful life of 10 years. Fiscal year for Upland Ltd ends on 31 December. Required: (A) Assuming the straight-line depreciation method, calculate the depreciation expenses for the equipment for the fiscal years 2018 and 2019. (2 marks) (B) Assuming the diminishing-balance depreciation method, calculate the depreciation rate and the depreciation expenses for the equipment for the fiscal years 2018 and 2019. (3 marks) (C) Prepare the journal entries to record the purchase of equipment. (2 marks) (D) Assuming the straight-line depreciation method, prepare the adjusting journal entries to record the depreciation expenses for the fiscal years 2018 and 2019. (4 marks) (E) The equipment was sold on 30 April 2020 for $ 50,000. Assuming the straight-line depreciation method, prepare the journal entries to record the sale of equipment on 30 April 2020. (6 marks) Note that narrations are not required for journal entries