26 in the time of liquidation when car cost 10,000 and the accumulated depreciation 3,000 sold for 7,000 the profit or loss from sales of car is 1 Select one: ut of O a. 3,000 loss O b. 3,000 profit uestion O c. O O d. 2,000 loss n 7 Luck Corporation issues 100 shares of $10 par value preference shares at $12 per share .In recording the transaction, credits are made to ed out of question Select one: a. preference shares 1000 b. preference shares 1000 and share premium -preference 200 O c. preference shares 1200 o d. cash 1200