72. Blecher Co. reported the following information at the end of 2015 and 2016:

2015 2016

Land $35,000 $100,000

Common stock 200,000 265,000

An analysis of Blechers records indicated that there were no cash flow effects resulting from the changes in the two accounts presented above. How should Blecher report the changes in these accounts on a statement of cash flows?

a. Blecher should report $65,000 for the acquisition of land as an investing activity and $65,000 for the issuance of stock as a financing activity.

b. Blecher should report $65,000 as a noncash investing and financing activity for the acquisition of land by issuing common stock.

c. Blecher should report the issuance of common stock to acquire land in the financing activity section with a net cash flow effect of zero.

d. Blecher should report the acquisition of land by issuing common stock in the investing activity section with a net cash flow effect of zero