Account balances in ABC, LLC's fixed asset accounts at the beginning and end of the year are as follows: End of year Property, plant, and equipment Accumulated depreciation Beginning of year $230,000 97,750 $184,000 103,500 The company sold some equipment at a loss of $11,500. The company also purchased equipment during the year for $57,500. Depreciation expense for the year was $23,000. What were the proceeds on the sale of the equipment? $74,750 $45,000 $15,000 $55,000