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At the beginning of Year 1 , Copeland Drugstore purchased a new computer system for $140,000. It is expected to have a five-year life and a $20,000 salvage value. Required a. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation. (2) Double-declining-balance depreciation. b. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and doubledeclining-balance methods in a financial statements model. Complete this question by entering your answers in the tabs below. Compute the depreciation for each of the five years, assuming that the company uses straight-line depreciation. Complete this question by entering your answers in the tabs below. Compute the depreciation for each of the five years, assuming that the company uses double-declining-balance depreciation. (Leave no cells blank - be certain to enter " 0 " wherever required.) Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double-decliningbalance methods in a financial statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). If an element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry.)

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