Check my work Colorado Mining paid $588,000 to acquire a mine with 49.000 tons of coal reserves. The financial statements model in Required B reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 25.725 tons of coalin year 1 and 22.050 tons in year 2 Required a. Compute the depletion charge per ton b. Record the acquisition of the coal reserves and the depletion expense for years and 2 in a financial statements model Complete this question by entering your answers in the tabs below. Required A Required Record the unition of the coal reserves and the depletion expense for years and in a financial statements model (In the Statement of Cash Flows column, use the Initials to designate operating activity, IA for investing activity, and for financing activity Enter any decreases to account balances and cash outflows with a mis SonNot all cells require tout Round inalwers to the nearest whole dolar amount) COLORADO MINING Horizontal Statements Model Balance Sheet Income Statement Asses Coal Cash Liabilities Revenue Stockholders' Equity Common Retained Stock Earnings 728500 Statement of Cash Flows Net Income Expenses 728.000 Depletion for Year 1 Depletion for Year 2