I need help with problem #1, please. How would I answer these and put them in a journey entry format?

Accounting for Long-Term Investing and Financing Decisions Final Assessment: Outline and Rubric Step TW'U: Calculations The following. nancial calculations were covered in the competency content. Calculate the tollowing four problems showing formulas for the ratio as well as the answer. Include the calculations, computation details {show your work}, and answers. Word, Excel, or .pdf format preferred. Problem #1 Cln January I, 202 I, a company purchased machinery costing 570,000. The estimated usetill le is 5 years, and the salvage value of the asset is expected to be 510,000. The machinery was used for 2,000 hours in Year I, 2,010 hours in Year 2, 2,050 hours in Year 3, 2,045 hours in Year 4, and I,0]0 ti'orn Ianuary 1 - June 30 ot'the fll'th year. The depreciation rate is 57.50 per hour. a] Using, the above information and the Straight-Line Depreciation Medmd: 1) Provide the journal entry to record the depreciation expense for Year 1 {show work for calculation ofamounl] 2) Provide the journal entry to record the depreciation expense for Year2 {show work for calculation ofamounl] 3) Provide the journal entry to record the depreciation expense for Year 3 {show work for calculation ofamount] 4) Assume the company sold the equipment at the end ot'Year 3 for $30,000. Provide the appropriate journal entries to record the sale. b] Using the above information and the Double Declining Deprecation Method: 1) Provide the journal entry to record the depreciation expense for Year 1 {show work for calculation ofamount] 2) Provide the journal entry to record the depreciation expense for Year 2 {show work for calculation ofamount] 3) Provide the journal entry to record the depreciation expense for Year 3 {show work for calculation ofamount] 4) Assume the company sold the equipment at the end ot'Year 3 for $30,000. Provide the appropriate journal entries to record the sale. c] Using the above information and the Units ot'Pro-duclion Method: 1) Provide the journal entry to record the depreciation expense for Year 1 [show work for calculation ofamount] 2) Provide the journal entry to record the depreciation expense for YearB [show work for calculation ofamount] 3) Provide the journal entry to record the depreciation expense for Year 3 [show work for calculation ofamount] 4) Assume the company sold the equipment at the end onear 3 for $30,000. Provide the appropriate journal entries to record the sale