Colorado Mining paid $504,000 to acquire a mine with 42,000 tons of coal reserves. The financial statements model shown on the last tab reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 22,050 tons of coal in year 1 and 18,900 tons in year 2. Required a. Compute the depletion charge per unit. b-1. Compute the depletion expense for years 1 and 2 in a financial statements. b-2. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Compute the depletion expense for years 1 and 2 in a financial statements. Depletion Expense Year 1 Year 2 Required a. Compute the depletion charge per unit. b-1. Compute the depletion expense for years 1 and 2 in a financial statements. b-2. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, or FA for financing activity. If the element not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows with a minus sign. Round final answers to the nearest whole dollar amount. Not all cells will require entry.) Show less A COLORADO MINING Horizontal Statements Model Balance Sheet Income Statement Net Statement of Cash Flows Liabilities Stockholders' Equity Common Retained Stock Earnings Revenue - Expenses Assets Cash Coal + Reserves Acquisition of coal reserves 795,700 + Income + 795,700 + = = FT Depletion for Year 1 + Depletion for Year 2 + + I- 1 = 1 +1 1-2