On January 1, 2016 Du Lac Company purchased office equipment that cost $16,000 cash. The equipment had a five year useful life and a $1,200 expected salvage value. Using straight line depreciation, determine the amount of depreciation expense and the amount of accumulated depreciation that would appear on the December 31, 2018 financial statements. A) $2,960 / $2,960. B) $2,608 / $7,824. C) $2,960 / $8,880. D) $2,600 / $7,800. Input the Letter answer from above .

2.5 points

QUESTION 17

On January 1, 2016 Du Lac Company purchased office equipment that cost $16,000 cash. The equipment had a five year useful life and a $1,200 expected salvage value. Assume that Du Lac Company earned $5,000 cash revenue in 2018. Using straight line depreciation and assuming that the office equipment was sold on 12/31/18 for $6,000, the amount of net income or net loss appearing on the December 31, 2018 income statement would be: A) $2,040. B) $2,960. C) $2,760. D) $920. Input the Letter answer from above