XYZ Company's only transaction in 20X1 was the sale of a fixed asset for $20,000 cash. The income statement included only "Gain on sale of fixed asset, $5,000." Correct the following state- ment of cash flows. Cash flows from operating activities Gain on sale of fixed assets Cash flows from investing activities Proceeds from sale of fixed assets Total increase in cash $ 5,000 20,000 $25,000