Required information Exercise 8-9A Computing and recording straight-line versus double-declining balance depreciation LO 8. 2,8-3 rt 2 of 2 The following information applies to the questions displayed below) At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $52,000. It is expected to have a five-year life and a $7,000 salvage value. eBook Exercise 8.9A Part b References b. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double- declining balance methods in a financial statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (1A), a financing activity (FA) and net change in cash (NC). Enter any decreases to account balances and cash outflows with a minus sign. Not all cells in the "Statement of Cash Flows" column may require an input. leave cells blank if there is no corresponding input needed.) COPELAND DRUGSTORE Horizontal Statements Model Balance Sheet Income Statement Stockholders Assets Equity Revenue - Expenses - Net Income Book Value Retained of Computer Earnings Statement of Cash Flows Cash Straight Line Depreciation Double Declining Balance Depreciation