3 waped thick Pa At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $240,000. It is expected to have a five-year life and a $40,000 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 double- declining balance methods in a financial statements model. References Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Record the purchase of the computer system and the depreciation expense for the first year under straight line and double declining balance 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) Balance Sheet COPELAND DRUGSTORE Horizontal Statements Model Income Statement Show less