eBook Show Me How Land on the of Cash Flows Easterly Corporation purchased land for $472,000. Later in the year, the company sold a different piece of land with a book value of $278,000 for $311,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any Action Amount Gain or loss on sale of land Cash paid for purchase of land