Using the information below, compute the cost of new equipment purchased and the proceeds from selling used equipment

:Equipment Beginning Balance$100,000

Equipment Ending Balance$220,000

Accumulated Depreciation: Beginning Balance$50,000

Accumulated Depreciation: Ending Balance$60,000

You also know the following:

Depreciation Expense$15,000

Loss on the sale of equipment$5,000

Cost of Equipment Sold$30,000