Liz Company Financial information Table 3-1 December 2009 December 2010...
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Accounting
Liz Company Financial information
Table 3-1
| December 2009 | December 2010 | |
| net income | $2,000 | $4,000 |
| accounts receivable | 750 | 950 |
| accumulated depreciation | 1,000 | 1,500 |
| common stock | 4,500 | 5,000 |
| paid- in capital | 7,500 | 8,500 |
| retained earnings | 1500 | 3500 |
| accounts payable | 750 | 750 |
Based on the information in Table 3-1, assuming that no assets were disposed of during 2010, the amount of depreciation expense was
a. $375
b. $3,500
c. $2,500
d. $500
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