At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $180,000. It is expected to have a five-year life and a $30,000 salvage value.

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

COPELAND DRUGSTORE Horizontal Statements Model Balance Sheet Income Statement Stockholders' Assets Equity Net Revenue - Expenses = Book Value of Retained Income Computer Earnings Statement of Cash Flows Cash OA Straight-Line Depreciation Double-Declining-Balance Depreciation 1- 1-} | OA ICETTE