Information for 2 years is presented below for this company that uses the straight-line depreciation method. Current Year Prior Year Property, plant, and equipment $ 250,000 $190,000 Accumulated depreciation 100,000 85,000 Depreciation expense 62,500 47,500 Net sales 1,000,000 900,000 Total assets 625,000 475,000 During the current year, the company sold some equipment that had an original cost of $60,000. Which statement is true concerning transactions that must have occurred during the period?

a. The equipment sold had not been reported with the companys property, plant and equipment.

b. The company purchased additional equipment during the year.

c. The company did not purchase additional equipment during the year.

d. The selling price of the equipment sold was reported with net sales.