Question: TRED Inc. ' s December 3 1 , 2 0 1 7 balance sheet showed $ 2 2 , 5 0 0 of accumulated depreciation

TRED Inc.'s December 31,2017 balance sheet showed $22,500 of accumulated depreciation while their December 31,2018 balance sheet showed $29,500 of accumulated depreciation. Which of following is the most likely explanation?
TRED purchased $7,000 worth of new equipment during the year
The market value of TRED's equipment declined $7,000 during the year due to wear and tear
Assuming no additional assets were purchased or sold, depreciation on TRED's profit and loss statement for the year was $7,000
None of these are true
TRED Inc.'s December 31,2017 balance sheet showed $22,500 of accumulated depreciation

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