Mitchell Petroleum hires a drilling contractor to drill a well. The contract specified that the well was to be drilled to a depth of 10,000 feet at a cost of $400,000. The $400,000 cost includes $50,000 for surface casing. Any drilling to be completed after reaching the 10,000-foot depth is to be paid at a day rate of $3,000 per day. The 10,000-foot depth is reached on September 14, 2017, and the additional drilling to 12,000 feet is completed on October 27, 2017 Mitchell incurred additional costs as shown on the attached schedule. indicates "To be determined from the information given in the problem statement." REQUIRED: Complete the schedule showing whether the cost is IDC or L&W For numerical answers (1) DO NOT use commas to separate thousands places in numerical answers (2) use a minus sign to indicate negative numbers (3) DO NOT use dollar signs (4) Enter zeroes to indicate no amount in the columns and rows not used ITEM DESCRIPTION $ AMOUNT IDC L&WE 1 Rig drilling-turnkey contract* 2 Rig drilling-day rate 3 Location and road preparation 8000 4 Drilling water 7500 5 G&G-select drillsite 22400 6 Electric logging 1200 7 Bits 13000 8 Surface damages 6300 9 Mud (after 8,000 ft.) 40000 10 Production casing 35000 11 Cementing services 11000 12 Casing crews 5500 13 Tank battery 11500 14 Flow lines and connections 5000 15 Separators 7000 16 Cement 48000 17 Installing separators 4800 18 Tubing 30000 19 Christmas tree 20000 20 Measuring equipment 500 21 Installing Christmas tree 3000 22 Equipment rental drilling 10000