Farley River Inc. Use the Information Presented Below for Farley River, Inc.for 2015

Multiple Choice

Farley River Inc.
Use the information presented below for Farley River, Inc.for 2015 and 2014 to answer the questions that follow.Farley River uses the straight-line depreciation method.
-Refer to the information for Farley River, Inc.
Between 2014 and 2015, Farley River sold some equipment that had an original cost of $57,500.Which statement is most likely true concerning transactions that must have occurred during the period?

A) Farley River also purchased additional equipment during the year.
B) The selling price of the equipment sold was reported with net sales.
C) The equipment that was sold had a book value of $12,500.
D) The equipment sold had not been reported with Farley River's property, plant and equipment.