Recording Depletion Quavo Mining Co0 acquired mineral riphts for $44,000,000. The mineral deposit is estimated at 80,000,000 tons. During the current year, 8,000,000 tons were mined and sold. a. Determine the amount of depletion expense for the current vear. b. Diustrate the effects on the accounts and finandal statements of the depletion expense. For decreases in accounts or outflows of cash, enter vour answers as negative numbers. If no account or activity is alfected, select "No effect" from the dropdown and leave the corresponding number entry box blank