Exercise 6-18A (Algo) Computing and recording depletion expense LO 6-8 Colorado Mining paid $440,000 to acquire a mine with 44,000 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 23,100 tons of coal In year 1 and 19,800 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 1 Req 82 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 is 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.) COLORADO MINING Horizontal Statements Model Balance Sheet Income Statement Assets Stockholders' Equity Cash Coal Reserves Liabilities Common Stock Revenue Retained Earnings Expenses Net Income Statement of Cash Flows Acquisition of coal reserves 745,400 Depletion for Year 1 Depletion for Year 2 745.400 Req 81 Show less A Help Exercise 6-18A (Algo) Computing and recording depletion expense LO 6-8 Colorado Mining paid $440,000 to acquire a mine with 44,000 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 23,100 tons of coal in year 1 and 19,800 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 82 Compute the depletion charge per unit. Depletion charge per unit per ton RegA Req B1 > Complete this question by entering you Req A Req B1 Req B2 Compute the depletion expense for years 1 a Depletion Expense Year 1 Year 2