At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $52,000. It is expected to have a five-year life and a $7,000 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 horizontal statements model. (In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, and FA for financing activity. Leave blank to indicate that an element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign.) Cash Balance Sheet Assets Book Value of Computer + Straight-line depreciation + + Double-declining-balance depreciation COPELAND DRUGSTORE Horizontal Statements Model Stockholders' Equity Retained Earnings Revenue Income Statement - Expenses Net Income Statement of Cash Flows

At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $52,000. It is expected to have a frve-year life and a $7,000 salvage value b. Record the purchase of the computer system and the depteciation expense for the first year under straight-line and doublededining-balance methods in a horizontai statements model (In the Statement of Cash Flows column, use the initiols OA to designate operoting activity, IA for investing octivity, and FA for finoncing octivity. Leave blonk to indlcate thot on element is not offected by the event. Enter any decreases to account balances and cosh outflows with o minus sign.)