Waco Company was started on January 1, 2017 when it issued common stock for $15,000 cash. Also on January 1, 2017 the company purchased office equipment that cost $15,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $1,000. The equipment had a five year useful life and a $1,200 expected salvage value.

Using the above information and straight line depreciation, determine the amount of depreciation expense for 2019 and the amount of accumulated depreciation that would appear on the December 31, 2019 financial statements.

Depreciation Expense 2019 ______________ Accumulated Depreciation as of 2019 ______________