Colorado Mining paid $590,800 to acquire a mine with 835,000 tons of coal reserves. The horizontal...

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Colorado Mining paid $590,800 to acquire a mine with 835,000 tons of coal reserves. The horizontal statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 438,375 tons of coal in Year 1 and 375,750 tons in Year 2. Required a. Compute the depletion charge per unit. b. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model like the preceding one. c. Prepare the general journal entries to record the depletion expense for years 1 and 2. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the depletion charge per unit. (Round your answer to two decimal places.) Depletion charge per unit < Required A Required B > Colorado Mining paid $590,800 to acquire a mine with 835,000 tons of coal reserves. The horizontal statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 438,375 tons of coal in Year 1 and 375,750 tons in Year 2. Required a. Compute the depletion charge per unit. b. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model like the preceding one. c. Prepare the general journal entries to record the depletion expense for years 1 and 2. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the depletion charge per unit. (Round your answer to two decimal places.) Depletion charge per unit < Required A Required B >