At the beginning of Year 1. Copeland Drugstore purchased a new computer system for $85,000. It is expected to have a five-year life and a $15,000 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. ces Complete this question by entering your answers in the tabs below. Req A1 Req A2 ReqB Compute the depreciation for each of the five years, assuming that the company uses straight-line depreciation. Straight-line Depreciation Year 1 Year 2 Year 3 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 stra Straight-line Depreciation Year 1 Year 2 Year 3 Year 4 Year 5 RETAIL Req A2 > Complete this question by entering your answers in the tabs below. Req Al Reg A. Req B Compute the depreciation for each of the five years, assuming that the company uses do (Leave no cells blank - be certain to enter "0" wherever required.) Double Declining Balance Year 1 Year 2 Year 3 Year 4 Year 5 Req A1 Req AZ CARO Req B Record the purchase of the computer system and the depreciation expense for the first year under st balance methods in a financial statements model. In the Cash Flow column, indicate whether the ite investing activity (IA), or a financing activity (FA). If an element is not affected by the event, leavet to account balances and cash outflows with a minus sign. Not all cells will require entry.) COPELAND DRUGSTORE Horizontal Statements Model Balance Sheet Income Statement Assets Stockholders' Equity Net Book Value of = Revenue Expenses = Retained Income Cash Computer System Earnings Purchase of computer system Statement of Cash Flows IL Straight-Line Depreciation + Double-Declining-Balance Depreciation IT