During the year, Blaylock Company sold equipment with a book value of $140,000 for $190,000 (original purchase cost of $240,000). New equipment was purchased. Blaylock Company provided the following comparative balance sheets:
Blaylock Company
Comparative Balance Sheets
At December 31, 2011 and 2012
...............................................2011.................2012
Long-Term Assets:
Plant and equipment................ $1,100,000....... $1,075,000
Accumulated depreciation............ (600,000)......... (635,000)
Land....................................... 500,000.......... 718,750
Required:
Calculate the investing cash flows for the current year.