Cash Flows from Investing Activities

During the year, Swasey Company sold equipment with a book value of $$560,000$ for $$760,000($original purchase cost of $$960,000).$ New equipment was purchased.

Swasey provided the following comparative balance sheets:

Swasey Company

Comparative Balance Sheets

At December $31,20$X$1$ and $20$X$2$

$201,202$

Long$-$Term Assets:

$\backslash$table$[[$Plant and equipment,$$4,400,000,$$$4,300,000$