Quentin began 2014 with the following non-current asset balances: Plant and equipment (net) $59,000; Patent (net) $28,000. No long-term assets were purchased or sold during the year. How much amortization and depreciation expense did Quentin record during 2014?

(need more and proper explanation)

12. The next six questions refer to Quentin Company's December 31, 2014, Balance Sheet. Quentin began 2014 with the following non-current asset balances: Plant and equipment (net) $59,000; Patent (net) $28,000. No long-term assets were purchased or sold during the year. How much amortization and depreciation expense did Quentin record during 2014? $3,000 $4,000 O $7.000 O Cannot be estimated Quentin Company Balance Sheet as of December 31, 2014 Assets Liabilities Current Assets Current Liabilities Cash $ 42.000 Accounts payable.... Inventory. 38.000 Short-term debt.. Prepaid expense. 12.000 Total current liabilities... Total current assets. $ 90,000 Non-current Liabilities Non-current Assets Bond payable Plant and equipment (net). 56.000 Owners' Equity Patent (net). 24.000 Common stock.. Total Assets $ 170,000 Retained earnings... Total Liabilities and Owners' Equity $ 30.000 42,000 $ 72,000 34.000 20.000 44,000 $ 170,000 23. Quentin Company's year-end 2014 total assets equals its year-end 2014 total liabilities and owners' equity. This is most likely the result of the company following the: Historical Cost concept Dual-aspect concept Materiality concept Money measurement concept Quentin Company Balance Sheet as of December 31, 2014 Assets Liabilities Current Assets Current Liabilities Cash... $ 42,000 Accounts payable....... $ 30,00 Inventory 36,000 Short-term debt. 42,000 Prepaid expense. 12.000 Total current liabilities......... $72,000 Total current assets $ 90,000 Non-current Liabilities Non-current Assets Bond payable. 34.000 Plant and equipment (net). 56.000 Owners' Equity Patent (net).... 24,000 Common stock. 20,000 Total Assets $ 170.000 Retained earnings. 44,000 Total Liabilities and Owners' Equity $ 170,000