The Stein Company acquires a silver mine at the cost of $950,000 on January 1. Along with the purchase price Stein pays additional costs associated with development of $75,000. Stein expects the mine will have a salvage value of $125,000 once all the silver has been mined. Best estimates are that the mine contains 300,000 tons of ore. Required Prepare the entry to record the purchase of the silver mine. Prepare the December 31 year-end adjusting entry to record depletion if 40,000 tons of ore are mined and all the ore is sold. a. b. C. Prepare the December 31 year-end adjusting entry to record depletion if 40,000 tons of ore are mined but only 10,000 tons of the ore are sold.