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Question 2 Not complete Marked out of 9.00 Flag question Computing Straight-Line and Double-Declining-Balance Depreciation On January 2, Haskins Company purchases a laser cutting machine for use in fabrication of a part for one of its key products. The machine cost $90,000, and its estimated useful life is five years, after which the expected salvage value is $5,000. For both parts (a) and (b) below: (1) Compute depreciation expense for each year of the machine's five-year useful life under that depreciation method. (2) Use the financial statements effects template to show th effect of depreciation for the first year only for that method. (a) Straight-line $ per year Use negative signs with answers below, when appropriate. Balance Sheet Income Statement Noncash Contributed Earned Net Transaction Cash Asset + Assets = Liabilities + Capital Capital Revenue Expenses Income Record first yeardepreciation (b) Double-declining Year Depreciation Expense $ 2 $ 3 $ 4 $ 5 $ Use negative signs with answers below, when appropriate. Balance Sheet Income Statement Noncash Contributed Earned Net Transaction Cash Asset + Assets Liabilities + Capital Capital Revenue Expenses Income Record first year depreciation