this is a 2 part accounting question

10 Flannery Company engages in the exploration and development of many types of natural resources. In the last two years, the company has engaged in the following activities 09 points 1 Jan. 1, Year Purchased for $1,730,000 a silver mine estimated to contain 137.000 tons of silver ore. July 1, Year Purchased for $1,990,000 tract of timber estimated to yield 2,580,000 board feet of lumber, and 1 the residual value of the land was estimated at $11,000 Feb. 1. Year Purchased for $3,020,000 a gold mine estimated to yield 90,000 tons of gold-veined ore. 2 Sept. 1, Year Purchased oil reserves for $1,334,000. The reserves were estimated to contain 254,000 barrels of 2 oil, of which 11,000 would be unprofitable to pumps eBook Print o References Required a. Determine the amount of depletion expense would be recognized on the Year 1 income statement for each of the two res assuming 14,400 tons of silver were mined and 590,000 board feet of lumber were cut b. Determine the amount of depletion expense that would be recognized on the Year 2 income statement for each of the four reserves assuming 24.000 tons of silver are mined, 330,000 board feet of lumber are cut. 5,000 tons of gold ore are mined, a 76,000 barrels of oil are extracted c. Prepare the portion of the December 31 Year 2, balance sheet that reports natural resources, Complete this question by entering your answers in the tabs below. Reg A and B Reqc Determine the amount of depletion expense that would be recognized on the Year 1 Income statement for each of the two reserves, assuming 14,400 tons of silver were mined and 590,000 board feet of lumber were cut. Also determine the amount of depletion expense that would be recognized on the Year 2 income statement for each of the four reserves, assuming 24,000 tons of silver are mined, 330,000 board feet of lumber are cut, 5,000 tons of gold ore are mined, and 76,000 barrels of oil are extracted. (Round "per unit" values to 2 decimal places and final answers to the nearest whole dollar amount.) Show less a Deplotion Expense - Year 1 Silver Mine Timber bDepletion Expense - Year 2 Silver Mine Timber Gold Mine Os Reserves la Aed Reqc > Req A and B Reg C Prepare the portion of the December 31, Year 2, balance sheet that reports natural resources. (Round "per unit" values to 2 decimal places and final answers to the nearest whole dollar amount.) Natural Resources Silver Mine Timber Gold Mine Oil Reserves Total Natural Resources Land Total ( Req A and B Fon