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In: AccountingSwanson & Hiller, Inc., purchased a new machine on September1 of the current year at...Swanson & Hiller, Inc., purchased a new machine on September1 of the current year at a cost of $149,000. The machine’sestimated useful life at the time of the purchase was five years,and its residual value was $9,000. The company reports on acalendar year basis.Please help me with the equations how to work this problem.Required:a-1. Prepare a complete depreciation schedule,beginning with the current year, using the straight-line method.(Assume that the half-year convention is used).a-2. Prepare a complete depreciation schedule,beginning with the current year, using the 200 percentdeclining-balance method. (Assume that the half-year convention isused).a-3. Prepare a complete depreciation schedule,beginning with the current year, using the 150 percentdeclining-balance, switching to straight-line when that maximizesthe expense. (Assume that the half-year convention is used).b. Which of the three methods computed in parta is most common for financial reporting purposes?c. Assume that Swanson & Hiller sells themachine on December 31 of the fourth year for $31,000 cash. Computethe resulting gain or loss from this sale under each of thedepreciation methods used in part a.