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a Colorado Mining paid $420,000 to acquire a mine with 42,000 tons of coal reserves. The financial statements model shown on the last tab reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 22,050 tons of coal in year 1 and 18,900 tons in year 2. Required 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 a. Complete this question by entering your answers in the tabs below. ReqA Reg 1 Reg 32 Compute the depletion charge per unit. Depletion charge per unit porton Reg 1 > Colorado Mining paid $420,000 to acquire a mine with 42,000 tons of coal reserves. The financial statements model shown on the last tab reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 22,050 tons on coal in year 1 and 18,900 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 Complete this question by entering your answers in the tabs below. Reg A Reg 31 Req B2 Compute the depletion expense for years 1 and 2 in a financial statements. Depletion Expense Year 1 (Year 2 COLORADO MINING Horizontal Statements Model Income Statement Balance Sheet Assets - Liabilities + Cash Coal Reserves Acquisition of coal reserves 675,600 Stockholders' Equity Common Retained Stock Earnings Revenue Statement of Cash Flows Net Income Expenses = 675,600 + Depletion for Year 1 Depletion for Year 2

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