Simpson Company applies revaluation accounting to plant assets with a carrying value of $800,000, a useful life of 4 years, and no salvage value. Depreciation is calculated on the straight-line basis. At the end of year 1, independent appraisers determine that the asset has a fair value of $750,000.

The financial statements for year one will include the following information

		A. Accumulated depreciation $200,000.
		B. Depreciation expense $50,000.
		C. Plant assets $750,000.
		D. Revaluation surplus $50,000.