Question: Please help with the attached questions Problem 2 Michigan Company acquired a machine on January 1, 2021 that cost $2,700 and had an estimated residual

Please help with the attached questions

Please help with the attached questions Problem 2 Michigan Company acquired amachine on January 1, 2021 that cost $2,700 and had an estimated

Problem 2 Michigan Company acquired a machine on January 1, 2021 that cost $2,700 and had an estimated residual value of $200. Complete the following schedule using the three methods of depreciation: A.) straight-line, B.) units-of- production, C.) double declining-balance. Method Estimated Useful Life Depreciation Expense for Accumulated Depreciation 2022 12/31/2022 A. Straight Line 5 years 10,000 units (total) 1,000 units (20X1's B. Units of actual) Production 1,200 units (20X2's actual) C. Declining 5 years BalanceProblem 3 The comparative balance sheets for Hamilton Inc. appear below: Dec 31, 2020 Dec. 31, 2019 Assets Cash $29,000 $10,000 Trade receivables 23,000 14,000 Prepaid expenses 6,000 9,000 Inventory 25,000 15,000 Long-term investments 0 23,000 Equipment 57,000 30,000 Accumulated depreciation-equipment (18.000) (14,000) Total assets $122,000 $87,000 Liabilities and Shareholders' Equity Trade payables $21,000 $9,000 Mortgage notes payable 37,000 45,000 Common shares 40,000 23,000 Retained earnings 24.000 10.000 Total liabilities and shareholders' equity $122.000 $87.000 Additional information: 1. Net income for the year ending December 31, 2020 were $27,000. 2. Cash dividends of $13,000 were declared and paid during the year ended December 31 2020. 3. Long-term investments that had a carrying amount of $23,000 were sold for $18,000 in 2020. Prepare only the cash flow from operating activities for the year ended Dec 31, 2020 using the indirect method

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