1. Equipment transaction and cash flow reporting Dec. 31, 20X4 Dec. 31, 20X3 Property, Plant & Equipment: Land $94,000 $94,000 Equipment 652,000 527,000 Less: Accumulated depreciation -316,000 -341,000 New equipment purchased during 20×4 totaled $280,000. The 20×4 income statement disclosed equipment depreciation expense of $41,000 and a $9,000 loss on […]