On January 1, 2015, Riley Company had a balance of $265,000 in its Equipment account.
During 2015, Riley sold equipment that cost $85,000 for $48,000 cash. The balance in the equipment account on December 31, 2015, was $240,000.
Required:
a. Determine the cash outflow for ht purchase of equipment during 2015.
Cash outflow for the purchase of equipment
b. Prepare the investing activities section of the 2015 statement of cash flow. (Input outflow as a negative)
Cash flows from investing activities:
Net cash inflow from investing

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