eBook Show Me How C Land Transactions on the Staterwent of Cash Flows Iz Corporation purchased and for $500,000. Later in the year, the company at a different place of land with a book value of $250,000 for $280,000 How are the effects of these transaction reported on the statement of cash flows assuming the Indirect method is used? Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, Mlect "No effect from the drop down menu and leave the amount box blank Transactions Action Amount Gain on sale of land Deducted from net incomo Cash received from sale of ind part of cash flows from investing activities 280,000 Cash paid for purchase of land part of cash flow from investing activities -500,000 Previous Next > Hems Check My Work Ave mattor Save and Suomet Alignment for Grading 50%