In its 2007 annual report to shareholders, Martin Marietta Materials, Inc. included the following in its financial statement footnotes:
NOTE F: PROPERTY, PLANT AND EQUIPMENT, NET
Finally, the company stated the following among its accounting policies: "Depletion of mineral deposits is calculated over proven and probable reserves by the units-of-production method."
Required:
Compute the percentage of proven and probable reserves of mineral deposits depleted in 2007.

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The Answer of In its 2007 annual report to shareholders, Martin Marietta Materials, Inc. included the following in its financial statement footnotes:
NOTE F: PROPERTY, PLANT AND EQUIPMENT, NET
Finally, the company stated the following among its accounting policies: "Depletion of mineral deposits is calculated over proven and probable reserves by the units-of-production method."
Required:
Compute the percentage of proven and probable reserves of mineral deposits depleted in 2007.

In Its 2007 Annual Report to Shareholders, Martin Marietta Materials