ABC Company uses IFRS for financial reporting and revalues its buildings in accordance with IFRS. . On January 1, 2009, ABC Company paid cash of $4,400,000 to acquire its only building, • The company uses straight line depreciation and the building has a 20-year life and no salvage value. · On December 31, 2010, the company revalued the building when the fair value of the building was $4,158,000 On December 31, 2012, the company sold the building for $3,970,000 • The company's accounting policy is to reverse a portion of revaluation surplus related to any increased depreciation expense. The entry to record the depreciation on December 31, 2011 is:

Depreciation Expense a. 231,000 Bulding 231.000 Depreciation Expense 231,000 Accumulated Depreciation - Building 231,000 b. Revaluation Surplus 11,000 Retained Earnings 11.000 Depreciation Expense 231,000 Accumulated Depreciation - Building 231,000 C. Revaluation Surplus 231,000 Retained Earnings 231,000 Depreciation Expense O d. 220,000 Accumulated Depreciation - Building 220,000