1. Purple Company reported $70,000 of net income for 2016. During the year, machinery costing $10,000 and with accumulated depreciation of $8,000 was sold at a loss of $500. Land and machinery were purchased during the year for cash. Selected account information follows:
	2016
	31-Dec	1-Jan
Land	$ 50,000	$ 32,000
Machinery	$ 32,000	$ 20,000
Accumulated Depreciatin: Machinery	$ 7,000	$ 12,000
Required: Compute the net cash from investing activities for 2016 using the visual inspection method.