Salter Mining Company purchased the Northern Tier Mine for $84 million cash. The mine was estimated to contain 8.92 million tons of ore and to have a residual value of $7.6 million. During the first year of mining operations at the Northern Tier Mine, 65,000 tons of ore were mined, of which 12,000 tons were sold. a. Prepare a journal entry to record depletion during the year: b. Show how the Northem Tier Mine, and its accumulated depletion, would appear in Salter Mining Company's balance sheet after the first year of operations