Cash Flows from Investing Activities

During the year, Blaylock Company sold equipment with a book value of $280,000 for $380,000 (original purchase cost of $480,000). New equipment was purchased.

Blaylock provided the following comparative balance sheets:

Blaylock Company Comparative Balance Sheets At December 31, 2015 and 2016 2015 2016 Long-Term Assets: Plant and equipment Accumulated depreciation Land $2,200,000 $2,150,000 (1,200,000) (1,270,000) 1,000,000 1,437,500 Required: Calculate the investing cash flows for the current year. Use a minus sign to indicate a cash outflow