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.