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. 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. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Compute the depreciation for each of the five years, assuming that the company uses straight-line depreciation. Straight-line Depreciation Year 11 $ 44,000 Year 2 $ 44,000 Year 3 $ 44,000 Year 4 $ 44,000 Year 5 $ 44,000 A Req A2 > 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. 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. Complete this question by entering your answers in the tabs below. Req A1 Req Az Req B Compute the depreciation for each of the five years, assuming that the company uses double-declining-balance depreciation. (Leave no cells blank - be certain to enter "0" wherever required.) Year 11 Double-Declining Balance Year 2 Year 3 Year 4 Year 5 < Req A1 Req B > new computer system for $260,000. 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. Complete this question by entering your answers in the tabs below. Req A1 Req AZ Req 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), 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.) Cash COPELAND DRUGSTORE Horizontal Statements Model Balance Sheet Income Statement Assets Stockholders' Equity Book Value of Revenue Retained Expenses Net Income Statement of Cash Flows Computer Earnings System Purchase of computer system (260,000) 260,000 Straight-Line Depreciation Double-Declining-Balance Depreciation - - of (260,000) IA Show less A