The following selected account balances relate to the property, plant, and equipment accounts of Sheridan Inc.: 2017 Accumulated depreciation-buildings Accumulated depreciation-equipment Depreciation expense-buildings Depreciation expense-equipment Land Buildings Equipment Gain on disposal (equipment) 2018 $339,500 148,000 36,500 70,000 130,000 760,000 305,000 4,100 $303,000 102,000 36,500 46,000 64,000 760,000 250,000 0 Additional information: 1. Purchased $66,000 of land for cash. Purchased $85,000 of equipment for a $14,000 down payment, financing the remainder with a bank loan. Equipment was also sold during the year. 2. Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2018. Land purchase $ Equipment purchase $ Proceeds from disposal of equipment $ Indicate where each of the cash receipts or payments identified above would be classified on the statement of cash flows or accompanying notes. Land purchase Equipment purchase Proceeds from equipment disposal Note: During the year the company purchased equipment costing $ by paying $14,000 cash and issuing a bank loan payable for $71,000