4 EK HET , A16. These are the balance sheets of Mitchell Ltd: 30 June 2011 $10 000 $ 4 000 30 June 2012 $15 000 $ 5 000 Plant Accumulated Depreciation - Plant The profit and loss statement for the year ended 30 June 2012 shows: Depreciation Expense - plant $1 500 Proceeds from the sale of plant $1 600 Carrying value of plant sold $2 500 During the year Mitchell Ltd sold plant which had cost $3000. The accumulated depreciation on the plant sold by Mitchell during the year is: (a) $500 (b) $1 500 $2 500 $4 000 None of the above