At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $260,000. It is expected to have a five-year life and a $40,000 salvage value Exercise 8-9A Part a Required a. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation Straight-Line 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. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), a financing activity (FA) and net change in cash (NC). Enter any decreases to account balances and cash outflows with a minus sign. Not all cells in the Statement of Cash Flows" column may require an input leave cells blank if there is no corresponding input nee Balance Sheet COPELAND DRUGSTORE Horizontal Statements Model Income Statement Stockholders' Equity Revenue - Expenses - Retained Income Earnings Assets Net Statement of Cash Flows Revenue - Expenses Cash Book Value of Computer Straight-Line Depreciation Double-Declining-Balance Depreciation