2. Net income for Trent Company for 2008 includes the effect of the following transactions involving the sale
of fixed assets:
Y
Cost
Gain/Loss
Sales
Price
$ 20,000
25,000
$ 80,000
$ 150,000
$ 10,000
$ (18,000)
Purchases of fixed assets during 2008 amounted to $340,000. The Accumulated Depreciation account
increased $40,000 during 2008. How much was depreciation expense for 2008?
a. $217,000.
b. $270,000.
c. $40,000.
d. $32,000.