Caleb Auto Parts Company Uses the Indirect Method to Prepare $\begin{array}{llr} \text {Caleb Company } &\\ \text {Comparative Balance Sheet } &\\ \text {December 31,2017 and 2016 } &\end{array}$

Caleb Auto Parts Company uses the indirect method to prepare its statement of cash flows.Refer to the following portion of the comparative balance sheet:

$\begin{array}{llr} \text {Caleb Company } &\\ \text {Comparative Balance Sheet } &\\ \text {December 31,2017 and 2016 } &\end{array}$
$\begin{array}{llll}& 2017 & 2016 & \text { Increase/(Decrease) } \\ \text { Cash } & \$ 42,000 & \$ 36,000 & \$ 6,000 \\\text { Accounts Receivable } & 62,000 & 70,000 & (8,000) \\\text { Merchandise Inventory } & 106,000 & 50,000 & 56,000 \\\text { PP\&E, net } & \underline{240,000} & \underline{180,000} & \underline{60,000} \\\text { Total Assets } & \$ 450,000 & \$ 336,000 & \$ 114,000\end{array}$
Additional information provided by the company includes the following:
Equipment costing $104,000 was purchased for cash.
Equipment with a net book value of $20,000 was sold for $28,000.
Depreciation expense of $24,000 was recorded during the year.
Prepare the investing activities section of the statement of cash flows.