Check my work At the beginning of Year 1. Copeland Drugstore purchased a new computer system for $250.000. It 15 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. Regal RA Reg Record the purchase of the computer system and the depreciation expense for the first year under straight line and double declining balance methode in a financial statements model in the Cash Flow column, indicate whether the item is an operating activity (OA), an Investing activity (1), or a financing activa CFA) If an element is not affected by the event, leave the cell blank, Enter any decreas to account balances and cash outflows with a minus sign. Not all cells will require entry) Now CPION 3 07 !!! Next > Check Show less Balance Sheet COPELAND DRUGSTORE Horizontal Statements Model Income Statement Stockholders Equity Revenue Expenses Net Retained Income Earnings Assets Statement of Cash Flows Book Value of Cash Computer System Purchase of computer system Straight-Line Depreciation Double-Declining-Balance Depreciation