The following is the complete mineral exploration, development, and extraction history of Nikko Minerals Inc. Early in 2009 investors invested $50 million to start the company. No further or other financing was required. The company started explorations in 2009. However, all exploration efforts between 2009 and 2011 were unsuccessful. It was not until early in 2012 that Nikko found its one and only viable mineral deposit, which it immediately began to develop. It took two years to complete development of the site and all the minerals were extracted in three years, starting in 2014.

Required:
a. Assume Nikko used the successfi.il efforts method to account for exploration costs. Complete the following table using the successful efforts method of accounting.
b. Assume Nikko used the full cost method to account for exploration costs. Complete the following table using the full cost method of accounting.

Activity Exploration costs incurred and paid Exploration costs incurred and paid Exploration costs incurred and paid Development costs incurred and paid Development costs incurred and paid Revenues and cash collected from sale of ore @ $13.00/unit 2014 Units of ore extracted Extraction costs incurred and paid Revenues and cash collected from sale of ore S16.00/unit 2015 $40,000,000 Units of ore extracted Extraction costs incurred and paid Revenues and cash collected from sale of ore$8.00/unit 2016 Units of ore extracted Extraction costs incurred and paid Estimated units of mineral resource Year 2009 2010 2011 2012 2013 Amount S5,000,000 S7,000,000 $8,000,000 $10,000,000 S11,000,000 $26,000,000 2014 2,000,000 units 2014 $4,000,000 2015 ,500,000 units 2015 $5,000,000 $12,000,000 2016 1,500,000 units 2016 $3,000,000 6,000,000 units