A16. These are the balance sheets of Mitchell Ltd: 30 June 30 June M M Plant $10 000 $15 000 Accumulated Depreciation Plant $ 4 000 $ 5 000 The prot and loss statement for the year ended 30 June 2012 shows: Depreciation Expense plant $1 500 Proceeds from the sale of plant $1 600 Carrying value of plant sold $2 500 During the year Mitchell Ltd sold plant which had cost $3 000. The accumulated depreciation on the plant sold by Mitchell during the year is: (a) $500 (13) $1 500 (C) $2 500 ((1) $4 000 (e) None of the above