Questions 7-9 refer to the following information: The cash flow statement of the United Company is in process United Company is reporting the following balances: for 2015. The 12/31/14 12/31/15 $100,000 $170,000 Equipment Loss on sale of equipment Accumulated depreciation-equipment 10,000 95,000 75,000 During 2015, United sold equipment costing $30,000 for $12,000 and made several purchases of new equipment for cash. 7. Depreciation expense for 2015 is: a. $8,000. b. $20,000. C.$18,000. d. $%28,000