Given the following costs for Lease A, all incurred during 2008, prepare income statements and unclassified partial balance sheets for a successful-efforts company and a fullcost company.

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Acquisition costs G&G costs Exploratory dry holes $ 30,000 80,000 1,500,000 Successful exploratory holes 350,000 Development wells, dry 200,000 Development wells, successful 475,000 Cost of production facilities. 250,000 Production costs 60,000 DD&A*.... 55,000 (SE) 125,000 (FC) Accumulated DD&A 150,000 (SE) 360,000 (FC) Revenue from sale of oil * Depreciation, depletion and amortization 225,000