Flannery Company engages in the exploration and development of many types of natural resources. In the last two years, the company has engaged in the following activities: January 1, Year 1 Purchased for $1,420,000 a silver mine estimated to contain 138,000 tons of silver ore. July 1, Year 1 purchased for $2,030,000 cash a tract of land containing timber estimated to yield 2,640,000 boa feet of lumber. At the time of parchase, the land had an appraised of $121,000. purchased for $3,020,000 a gold mine estimated to yield 98,000 tons of gold-veined ore. oil, of which 15,000 would be unprofitable to pump. Required: Note: For all requirements, round per-unit values to 2 decimal places and final answers to the nearest whole dollar amount. a. Determine the amount of depletion expense that would be recognized on the Year 1 income statement for each of the two reserve assuming 14,900 tons of siver were mined, and 550,000 board feet of lumber were cut. b. Determine the amount of depletion expense that would be recognized on the Year 2 income statement for each of the four reserves, assuming 23,000 tons of silver are mined, 310,000 board feet of lumber are cut, 4,400 tons of gold ore is mined, and 96,000 barrels of oll are extracted. c. Prepare the portion of the December 31, Year 2, balance sheet that reports natural resources. Complete this question by entering your answers in the tabs below. a. Determine the amount of depletion expense that would be recognized on the Year 1 income statement for each of the two reserves, assuming 14,900 tons of silver were mined, and 550,000 board feet of lumber were cut. b. Determine the amount of depletion expense that would be recognized on the Year 2 income statement for each of the four reserves, assuming 23,000 tons of silver are mined, 310,000 board feet of lumber are cut, 4,400 tons of goid ore is mined, and 96,000 barrels of oil are extracted. Complete this question by entering your answer a. Determine the amount of depletion expense that wo reserves, assuming 14,900 tons of silver were mined, b. Determine the amount of depletion expense that wo reserves, assuming 23,000 tons of silver are mined, 31 and 96,000 barrels of oil are extracted. reserves, assuming 23,000 tons of silver are mined, 310,000 board feet of lumber are cut, 4,400 tons of gold ore is mined, and 96,000 barrels of oil are extracted. c. Prepare the portion of the December 31, Year 2, balance sheet that reports natural resources. Complete this question by entering your answers in the tabs below. Prepare the portion of the December 31, Year 2, balance sheet that reports natural resources