Balance Sheet Assets White Company assets as of December 31, 2007:
|
Cash and cash equivalents |
$150 |
|
Operating assets |
$1,190 |
|
Property, plant, and equipment |
$1,460 |
|
Total assets |
$2,800 |
White Co. experienced the following events in 2008:
Old equipment that cost $120 and that was fully depreciated was scrapped Depreciation expense was $125
Cash payments for new equipment were $200
Based on the information above, what was White Co.’s net amount of property, plant, and equipment at the end of 2008?
a. $1,415
b. $1,535
c. $1,655
d. $1,660