Cash Flows from Investing Activities During the year, Murray Company sold equipment with a book value of $125,000 for $175,000 (original purchase cost of $225,000). New equipment was purchased. Murray provided the following comparative balance sheets: Murray Company Comparative Balance Sheets At December 31, 20X1 and 20x2 20x1 20x2 Long-Term Assets Plant and equipment $1,000,000 (500,000) $1,025,000 (525,000) Accumulated depreciation Land 500,000 702,750 Required: Calculate the investing cash flows for the current year. Use a minus sign to indicate a cash outflow. Cash Flows from Financing Activities Murray Company earned net income of $450,000 in 20X2. Murray provided the following information: Murray Company Comparative Balance Sheets At December 31, 20X1 and 20x2 20X1 20X2 Bonds payable - 255,000 Mortgage payable 50,000 Common stock 187,500 187,500 Paid-in capital in excess of par 140,000 140,000 Retained earnings 912,500 1,162,500 Required: Compute the financing cash flows for the current year. Use a minus sign to indicate a cash outflow