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White corporation purchased a calculator for use by the office secretary. The calculator cost $25 and had an estimated useful life of five years. The purchase was recorded as a debit to Office Supplies Expense. Which of the following accounting concepts supports this accounting treatment? O a. Historical cost Ob. Prudence Oc. Materiality O d. Consistency O e. Continuity A company is formed by selling 100 shares at $10 per share. Inventory is then purchased on credit for $600. Half the inventory is then sold on account for $500. What are the company's total assets based on these transactions? O a $2,100 O b. $800 Oc. $600 O d. $1,800 O e. None of these amounts