Which of the following statements is TRUE?

a$.$ Depreciation expense and accumulated depreciation are both reported on the income statement.

b$.$ Depreciation expense and aceumulated depreciation are both reported on the balance sheet.

c$.$ Depreciation expense is reported on the income statement and accumulated depreciation is reported on the balance sheet.

d$.$ Depreciation expense is reported on the balance sheet and accumulated depreciation is reported on the income statement.