On its January 1, 2016, balance sheet, Calvin Company reported equipment of $60,000 and accumulate depreciation of $20,000. During 2016, Calvin sold equipment with original cost of $5,000. Selected information from Calvin's 2016 statement of each flows follows: Required: Compute the amount of equipment and accumulated depreciation that should appear on Calvin's December 31, 2016, balance sheet. Jamison Company is preparing its statement of cash flows for the current year. During the year, the company issuances of debt and properly recorded the transactions. These transactions were as follows: Paid cash of $115,000 to retire bonds payable with a face value of $120,000 and a book value Paid cash of $48,000 to retire bonds payable with a face value of $45,000 and a book value