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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 1,177,000 Mar. 12 Purchased for cash 377,000 1,554,000 Oct. Sold for $207,000 177,000 1,377,000 4 Item Amount Section of Statement of Cash Flows Investing activities section Investing activities section Added or Deducted Deducted Mar. 12: Purchase of fixed asset Oct. 4: Sale of fixed asset Added Gain on sale of fixed asset (assume the indirect method) Operating activities section Deducted