Wonder Fried Chicken bought equipment on January 2, 2024, for $15,000. The equipment was expected to remain in service for four years and to operate for 3,000 hours. At the end of the equipment's useful life, Wonder estimates that its residual value will be $3,000. The equipment operated for 300 hours the first year, 900 hours the second year, 1,200 hours the third year, and 600 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-line, units-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-line method. Straight-Line Depreciation Schedule Requirements Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cost Life Expense Depreciation Value 1-2-2024 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared. 2. Which method tracks the wear and tear on the equipment most closely? 12-31-2024 12-31-2025 . 12-31-2026 11 11 11 12-31-2027 . Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, Print Done = Depreciation per unit = Prepare a depreciation schedule using the units-of-production method. Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Book Date Cost Per Unit Units Expense Depreciation Value 1-2-2024 12-31-2024 12-31-2025 X = 12-31-2026 12-31-2027 Prepare a depreciation schedule using the double-declining balance (DDB) method. (Enter a "0" for any items with a zero value.) Double-Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Accumulated Book Depreciation Expense Date Cost Value Rate Depreciation Value 1-2-2024 12-31-2024 12-31-2025 12-31-2026 = 12-31-2027 = II Requirement 2. Which method tracks the wear and tear on the equipment most closely? The method tracks wear and tear most closely