Papa's Fried Chicken bought equipment on January 2, 2024, for 30,000The equipment was expected to remain in service for four years and to operate for 6,000 hoursAt the end of the equipment's useful life, Papa's estimates that its residual value will be 6,000The equipment operated for 600 hours the first year, 1,800 hours the second yearhours the third year, and 1,200 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 straight lineunits-of-production, and double-declining-balanceShow your computationsNoteThree depreciation schedules must be prepared Begin by preparing a depreciation schedule using the straight-line method