Reporting Land Transactions on Statement of Cash Flows On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO.         Balance Date Item Debit Credit Debit Credit Jan. 1     Balance     1,296,000     Mar. 12     Purchased for cash 389,000     1,685,000     Oct. 4     Sold for $214,000   183,000   1,502,000       Item Section of Statement ofCash Flows Added or Deducted Amount Mar. 12: Purchase of fixed asset Investing activities section  Deducted  $ Oct. 4: Sale of fixed asset Investing activities section  Added  $ Gain on sale of fixed asset (assume the indirect method) Operating activities section  Deducted  $

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