Bowyer driving school’s 2014 balance sheet showed net fixed assets of $3 million, and the 2015 balance sheet showed net fixed assets of $3.7 million. the company’s 2015 income statement showed a depreciation expense of $200,000. what was net capital spending for 2015? (do not round intermediate calculations. enter your answer in dollars, not millions of dollars, e. g., 1,234,567.)

$900,000

Explanation:

Net fixed assets(2014) = $3 million

Net fixed assets(2015) = $3.7 million

Depreciation expense = $200,000

Net capital spending for 2015 = closing balance of 2015 - opening balance of assets + depreciation for the year

                                                  = $3,700,000 - $3,000,000 + $200,000

                                                  = $900,000

Therefore, the net capital spending for the year 2015 is $900,000.

answer; /// i believe the correct answer is (all of the above);