20X4 20X3 Cash Accounts Receivable Inventory Prepaid Expenses Equipment Accumulated Depreciation equipment Total Assets Account Payable Income taxes payable Interest Payable Dividends Payable Long-term Notes Payable Common shares Retained Earnings Total Liabilities & Shareholders' Equity. $ 4,500 $ 4,300 $ 72,000 $ 6,500 $ 1,550 $ 1,020 $110,000 $ 98,000 $140,000 $100,000 $(50,000) $(42,000) $236,050 $209,820 $ 15,330 $ 9,900 510 $ 10 $ 9,500 $ $ 10,800 $ 1,800 $ 3,800 $ 50,000 $130,000 $ 27,610 $236,050 $ 65,000 $120,000 $ 1,610 $209,820 Additional Information: 1. Operating expenses include depreciation expense of $10,000 2. Accounts Payable related to the purchase of inventory 3. Equipment that cost $8,000 was sold at a loss of $2,000 4. New equipment was purchased during the year for $6,000 5. Dividends declared and paid in 20X4 totaled $2,000 6. Common shares were sold for $10,000 cash 7. Interest payable in 20X4 was $500 greater than interest payable in 20X3 What where the proceeds of the sale of the machinery when the indirect method to prepare cash flow statements is use?