Alpha Corporation purchased land for $224,000. Later in the year, the company sold a different piece of land with a book value of $134,000 for $150,000.

How are the effects of these transactions reported on the statement of cash flows assuming the indirect method is used? Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, select "No effect" from the drop down menu and leave the amount box blank.

Transactions	Action	Amount
Gain or loss on sale of land		$
Cash received from sale of land		$
Cash paid for purchase of land		$

Alona Copcration pucnased land for 224,000. Lata, nthe year, the company soid J diffcrent 0ce of land with J bDok suc ors:34.000 for $150,000. ow are c tcts c these vansactions ao ted on the st tema nt or casn n a assuming the ind rac method i No cffect' from the crop down mer and lee the amount bx oenk. sed? se tna minus sign t nd data cash t na s cash payments, des aases n c aand o any Jd ustments Trequired tra saction has na emoct on the stater ert cash na s so ct Cath rocaived from sale or und Cath paid for purchae of land