Exercise 8-19A (Algo) Computing and recording depletion expense LO 8-9 Colorado Mining paid $570,600 to acquire a mithe with 832,000 tons of coal reserves. The horizontal statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 436,800 tons of coal in Year 1 and 374,400 tons in Year 2 . Required a. Compute the depletion'charge per unit. b. Record the acquisition of the coal reserves and the depletion expensefor years 1 and 2 in a financlal statemients model like the preceding one. c. Prepare the general journal entries to record the depletion expense for years 1 and 2 Complete this question by entering your answers in the tabs below. Record the acquisition of the coal reserves and tye depletion expense for years 1 and 2 in a horizontal statements model. (In the Statement of Cash Flows 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 decr with a minus sign.) repare the general journal entries to record the depletion expense for years 1 and 2. (If no entry is required for a transaction/event, elect "No journal entry required" in the first account field. Round depletion charge per unit to two decimal places. Round your final inswers to the nearest whole dollari) Journal entry worksheet Note: Enter detats before credits