The income statement states that depreciation

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Reference no: EM13946972

You are examining balance sheets for 2012 and 2013 and you observe that a company's net fixed assets increased from $45 million to $50 million. The income statement states that depreciation was $2 million. If it's the case that the company purchased a total of $10 million in fixed assets during the year, how much must they have sold?

A) $3 million

B) $0

C) $10 million

D) $5 million

E) Cannot be determined

Reference no: EM13946972

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