The T accounts for Equipment and the related Accumulated Depreciation for Triangle Art Company at the end of 2008 are shown here.

In addition, Triangle Art Company’s income statement reported a loss on the sale of equipment of $7,500. What amount was reported on the statement of cash flows as “cash flow from sale of equipment”?

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Equipment Accumulated Depreciation 5,500 Beg. bal. Beg. bal. Acquisitions 80,000 Disposals 22,000 Disposals 44,500 41,600 Depr. exp. 12,000 End. bal. 99,600 End. bal. 51,000