The Cookie Company expects to begin operating on January 1. The company's master budget contained the following operating expense budget: September October November Salary expense $18,000 $18,000 $18,000 Sales commissions, 5% of sales 15,000 16,000 12.000 Utilities 1,400 1.400 1.400 Depreciation on store equipment 600 600 600 Rent 3.600 3,600 3,600 Miscellaneous 900 900 900 Total operating expenses $39,400 $40,400 $36,400 ======= Sales commissions are paid in cash in the month following the month in which the expense is recognized. All other expense items requiring cash payment are paid in the month in which they are recognized. The amount of accumulated depreciation appearing on the company's March 31 pro forma balance sheet is $1,000 D. $600