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Colorado Mining paid $576,000 to acquire a mine with 48,000 tons of coal reserves. The following statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 25,200 tons of coal in year 1 and 21,600 tons in year 2. Required a. Compute the depletion charge per unit. b-1. Compute the depletion expense for years 1 and 2 in a financial statements. b-2. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. The first event is recorded as an example. Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. The first event is recorded as an example. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, or FA for financing activity. If the element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows with a minus sign. Round final answers to the nearest whole dollar amount.) Show less COLORADO MINING Statements Model Income Statement Balance Sheet Stockholders' Equity = Liabilities + Common Retained Stock Earnings + 693,300 + Statement of Cash Flows Revenue - Expenses = Assets Coal Cash + Reserves 693,300 + Net Income Depletion for Year 1 Depletion for Year 2

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