complete section a, b, and c

Question 1) Macy Corporation purchased machinery on January 1, 2023, at a cost of $250,000. The estimated useful life of the machinery is 5 years, with an estimated salvage value at the end of that period of $30,000. The company is considering different depreciation methods that could be used for financial reporting purposes. Instructions: A) Prepare separate depreciation schedules (as shown in class) for the machinery using the straight-line method, and the double-declining balance method. (Round to the nearest dollar.) B) Which method would result in the higher reported 2023 income? In the highest total reported income over the 5-year period? C) Which method would result in the lower reported 2023 income? in the lowest total reported income over the 5 -year period? Question 1) Macy Corporation purchased machinery on January 1, 2023, at a cost of $250,000. The estimated useful life of the machinery is 5 years, with an estimated salvage value at the end of that period of $30,000. The company is considering different depreciation methods that could be used for financial reporting purposes. Instructions: A) Prepare separate depreciation schedules (as shown in class) for the machinery using the straight-line method, and the double-declining balance method. (Round to the nearest dollar.) B) Which method would result in the higher reported 2023 income? In the highest total reported income over the 5-year period? C) Which method would result in the lower reported 2023 income? in the lowest total reported income over the 5 -year period