On its January 1, 2014, balance sheet, Calvin Company reported equipment of $60,000 and accumulated depreciation of $20,000. During 2014, Calvin sold equipment with an original cost of $5,000. Selected information from Calvin's 2014 statement of cash flows follows: 
Required:
Compute the amount of equipment and accumulated depreciation that should appear on Calvin's December 31, 2014, balance sheet.
Definitions:
Transportation Management
The planning, execution, and optimization of the physical movement of goods, both incoming and outgoing, and ensuring the shipment is compliant and properly documented.
Accessibility Limitations
Restrictions or barriers that prevent individuals from using services, accessing information, or participating in activities, often due to physical, technological, or design issues.
Basic Service
A fundamental level of service provided by businesses, encompassing essential features or functions without additional amenities or high-end benefits.
Routing Guides
Documents issued by shippers to their suppliers and transport providers, specifying carrier selection, shipping, and receiving processes to ensure efficient and cost-effective transportation.
Q21: The FASB and IASB have joined forces
Q33: Below is a list of accounting assumptions,
Q61: One area of difference between GAAP and
Q63: The importance the economic substance of an
Q87: On January 1, 2014, Becky Company signed
Q92: What is the difference between a subsidiary
Q97: Melissa, Inc. reported the following income statement,
Q125: Langley Company received merchandise on December 31,
Q126: Refer to Exhibit 20-5. If Baltimore requires
Q143: Accrued revenues<br>A) have been earned and collected,