TB MC Qu. 07-167 (Algo) On its December... On its December 31 prior year balance sheet, Calgary Industries reports equipment of $530,000 and accumulated depreciation of $90,000 During the current year, the company plans to purchase additional equipment costing $96,000 and expects depreciation expense of $46,000 Additionally, it plans to dispose of equipment that originally cost $58,000 and had accumulated depreciation of $7,200. The balances for equipment and accumulated depreciation, respectively, on its December 31 current year budgeted balance sheet are Multiple Choice $472,000; $90,000. $626,000; $128,800