The first national legislation on minimum wages came with this act:

Transition economies were once socialist states but have been largely transformed into capitalism-based systems, partly through ________

A) low inward FDI B) high trade barriers C) low energy consumption D) privatization of state-owned industries

Sara's Designs purchased equipment at the beginning of 2015 for $11,000 . Sara decided to depreciate the equipment over a 5-year period using the straight-line method. Sara estimated the equipment's residual value at $1,000 . The estimated fair market value at the end of 2015 was $10,000 . Which of the following statements is correct concerning Sara's financial statements at December 31, 2015?

a. The book value of the equipment is $7,200. b. The book value of the equipment is $9,000. c. The total accumulated depreciation is $2,200. d. The equipment will be reported on the balance sheet at it fair market value of $10,000.