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26) On January 1, Year 1, Dalen Company purchased office equipment that cost $3,500. The equiptrent had an estimated five-year useful life and an estimated
26) On January 1, Year 1, Dalen Company purchased office equipment that cost $3,500. The equiptrent had an estimated five-year useful life and an estimated salvage value of $750. The company uses the straight-tine method. What is the amount of depreciation expense shown on the income statement and the amount of depreciation expense shown on the statement of eash flows, respectively, for Year 1? A) $550 and $0 B) $550 and $3,500 C) $0 and $550 D) $3,500 and $3,500
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