Liz Company Financial information

Table 3-1

	December 2009	December 2010
net income	$2,000	$4,000
accounts receivable	750	950
accumulated depreciation	1,000	1,500
common stock	4,500	5,000
paid- in capital	7,500	8,500
retained earnings	1500	3500
accounts payable	750	750

Based on the information in Table 3-1, assuming that no assets were disposed of during 2010, the amount of depreciation expense was

a. $375

b. $3,500

c. $2,500

d. $500