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 Purchase Price & Estimated Salvage Assets Value 20 Years 16 12 Building Equipment Truck $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 50 Building Equipment Truck heck my Purchase Salvage Purchase Salvage Purchase Salvage Price. Value Price Value Price Value Building - 15 years Equipment - 4 years. Truck - byears Building: Purchase price: $70,000 Salvage Value: $30,000 Equipment. Purchase price: $40,000 Salvage Value: $10,000 muck: Purchase Price: $30,000 Salvage Value: $5,000 Year 1 Production - Actual 35,000 units Year 2 Production- Estimated 55,000 units Year 3 Production- Estimated Year 4 Production- Estimated 25,000 units 5,000 units Year 1 Production Year 2 Production Year 3 Production Year 4 Production 0 Actual & Estimated Units-of-Production Actual 25,000 Estimated 50,000 75,000 Total Units to be Produced Estimated 100,000 Estimated 125,000 +ableau 1. Calculate the depreciable cost of the equipment on January 1. 2. Determine the equipment's first-year depreciation under the straight-line method. 3. Determine the equipment's book value at the end of the first year after recording depreciation under the straight-line method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the depreciable cost of the equipment on January 1. Depreciable cost Required 2 > ces +ableau 1. Calculate the depreciable cost of the equipment on January 1. 2. Determine the equipment's first-year depreciation under the straight-line method. 3. Determine the equipment's book value at the end of the first year after recording depreciation under the straight-line method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the equipment's first-year depreciation under the straight-line method. Choose Numerator: Cost minus salvage 1 Straight-Line Depreciation Choose Denominator: Estimated useful life (years) < Required 1 Annual Depreciation Expense - Depreciation expense Required 3 > CCR my TE +ableau 1. Calculate the depreciable cost of the equipment on January 1. 2. Determine the equipment's first-year depreciation under the straight-line method. 3. Determine the equipment's book value at the end of the first year after recording depreciation under the straight-line method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 K472 Determine the equipment's book value at the end of the first year after recording depreciation under the straight-line method. Year 1 Year-End Book Value < Required 2