1. A company had the following information in its long-term assets section on the balance sheet:

	December 31, 2017	December 31, 2016
Equipment	$490,000	$410,000
Accumulated Depreciation	(65,000)	(35,000)
Book Value	$425,000	$375,000

During the year, the company sold equipment that had originally cost $25,000 and had accumulated depreciation of $10,000. The company also recognized a gain on the sale of the equipment of $3,000.

Based on this information, determine the amount of depreciation expense for the year that would appear in the operating section of the statement of cash flows.

2. A company had the following information in its long-term assets section on the balance sheet:

	December 31, 2017	December 31, 2016
Equipment	$490,000	$410,000
Accumulated Depreciation	(65,000)	(35,000)
Book Value	$425,000	$375,000

During the year, the company sold equipment for cash that had originally cost $25,000 and had accumulated depreciation of $10,000. The company also recognized a gain on the sale of the equipment of $3,000.

Based on this information, determine the amount of proceeds from the sale of equipment that would appear in the investing section of the statement of cash flows.