12/31/15 12/31/14 Cash $ 6,000 $ 7,000 Accounts Receivable 62,000 51,000 Short-term Investments 35,000 18,000 Inventory 45,000 64,000 Equipment 154,000 130,000 (Accumulated Depreciation) (35,000) (25,000) Copyrights 46,000 50,000 Total Assets $ 313,000 $ 295,000 $ 46,000 $ 40,000 12,000 10,000 Accounts Payable Income Taxes Payable Notes Payable - Short Term 8,000 10,000 Notes Payable - Long Term 60,000 69,000 Common Stock 130,000 130,000 57,000 36,000 Retained Earnings Total Liabilities & Equity $ 313,000 $ 295,000 Hoya Company's Income Statement For the Period January 1 - December 31, 2015 Sales $ 338,150 Cost of Goods Sold (175,000) 163,150 (120,000) Gross Margin Operating Expenses Operating Income Interest Expense Gain on Sale of Equipment 43,150 (11,400) 2,000 Income Before Taxes 33,750 Income Tax Expense _(6,750). Net Income $ 27,000 Additional Information: Depreciation expense & amortization expense are included in operating expenses. Equipment was sold during 2015 that had a cost of $20,000 and was 70% depreciated. There were no asset impairments during 2015. Accounts payable only relates to inventory purchases. The notes are payable to Great Bank. No copyrights were purchased or sold during 2015. The firm reports under US GAAP. . What was the amount of cash paid for equipment purchases during 2015? 0 $30,000 O $44,000 $24,000 0 $14,000