The following information pertains to Washington Company: Net income ........................ $ 60,000 Increase in accounts payable . . . Depreciation expense ................ 13,000 Acquisition of equipment Payment of dividends ................ 3,000 with cash ............... Increase in accounts receivable ......... 6,000 Sale of treasury stock ..... Collection of long-term notes receivable . . . 7,000 Payment of long-term debt . . . Loss on sale of land ................. 18,000 Proceeds from sale of land . . . Decrease in inventories . . . . The net book value of land sold must have been $ 7,000 27,000 3,000 17,000 32,000 3,000