Drooling Dog, Inc. reported balances in the following accounts for the current year Beginning Ending Inventories $600 300 $300 500 Accounts Payable Cost of goods sold was $7,500. What was the amount of cash paid to suppliers? a. $7,300. b. $7,000. c. $7,500. d. $7.200. On January I, Nitram Corporation purchased a piece of equipment for $300,000. This equipment was depreciated by the double-declining- depreciation in the first year). At the beginning of the second year, Nitram decided to switch to the straight-line method using no salvage value. How much depreciation will Nitram show on its second year income statement a. $0. b, $ 45,000, c. $60,000. d. $120,000. lining-balance method over a useful life of 5 years (i.e. $120,000