Question 3: Depletion Charges {20 marks) Shamrock Timber Inc., a small pnyate company that follows ASPE, owns 10,000 hectares of timberland purchased in 2015 at a cost of $1,200 per hectare. At the time of purchase, the land without the timber was 1Iralued at $500 per hectare. In 2014, Shamrock built re lanes and roads, with a physical life of 30 years, at a cost of $84,000 and separately capitalized these costs. Every year, Shamrock sprays to preyent disease at a cost of $4,000 per year and spends $10,000 to maintain the re lanes and roads. During 2015, Shamrock selectiyely logged and sold i00,000 cubic metres of the estimated 350 million cubic metres of timber. In 2010, Shamrock planted new seedlings to replace the cut trees at a cost of $200,000. Required: at Determine the depletion charge and the portion of depletion included in the cost of timber sold in 2015. b] Proyide thejoumal entries to record the depletion charged to inyentory (and subsequently to cost of goods sold} for the year. c] Shamrock has not logged since 2015. Assume that Shamrock logged 020,000 cubic metres of timber in 201?, of which 50% was sold in 201? and the remainder sold in 2010. The timber cruiser (the appraiser} had estimated a total resource of 0 million cubic metres. Determine the cost of timber sold that relates to the depletion for 201? and 201 3. Proyide the journal entries to account for the cost of timber produced in 201? and subsequently sold in 201? and 2018. cl] Prepare the necessaryjournal entry to show how would Shamrock account for the maintenance costs of the re lanes and roads and the spraying of the timberland