CherryBlossoms, Inc. reported 2020 Net Income of $67,000. Included in the Net Income were Depreciation Expense, $9,500, and a Gain on Sale of Equipment, $2,300.

All of the following accounts increased during 2020

Following is year-end balance sheet information: 12/31/20 12/31/19 Plant, Property & Equipment $5,325,000 $4,875,000 Accumulated Depreciation $1,675,000 $1,425,000 Equipment with a cost of $845,000 and a book value of $380,000 was sold for $450,000. What is 2020 Depreciation Expense? O $250,000 O $785,000 O $715,000 O $630,000