Which of the following statements concerning depreciation is false?

a. Depreciation expense occurs because the cost of long-term assets such as buildings and equipment must be matched to the revenues produced by those assets.

b. Depreciation expense on the income statement flows through to the accumulated depreciation account on (or in the notes section of) the balance sheet.

c. The net property and equipment account on the balance sheet is equal to gross fixed assets plus accumulated depreciation.

d. Depreciation expense is calculated by the straight-line method.

e. To estimate the cash flow of a business when only income statement data are available, add depreciation (and any other noncash expenses) to net income.