All things being equal, a company and its creditors would prefer I. a lower current ratio II. a lower gross profit ratio III. a lower debt-to-total-assets ratio

		I only.
		I and II only.
		I, II, and III
		III only.

1. Entity D purchased equipment at a cost of $750,000 in January 2024. As of January 1, 2028, depreciation of $520,000 had been recorded on this equipment. Depreciation expense for 2028 is $75,000. After the adjustments are recorded and posted on December 31, 2028, what are the balances for the Equipment and Accumulated Depreciation accounts? Equipment Accumulated Depreciation

   		$155,000 $ -0-
   		$750,000 $ 595,000
   		$750,000 $ 520,000
   		$750,000 $ 445,000

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