(Solved): help please On January 1, Hawailan Specialty Foods purchased equipment for $43,000. Residual value ...

On January 1, Hawailan Specialty Foods purchased equipment for $\$43,000$. Residual value at the end of an estimated four-year service ife is expected to be $\$3,100$. The machine operated for 3,200 hours in the first year, and the company expects the machine to operate for a total of 33,000 hours. Determine the financial statement effects of depreciation for each of the first two years using the straight-line method. Complete this question by entering your answers in the tabs below. Determine the financial statement effects of depreciation for year 1 using the straight-line method. (Amounts to be deducted should be entered with minus sign.)