eBook Show Me How Land Transactions on the Statement of Cash Flows Cameron Corporation purchased land for $530,000. Later in the year, the company sold a different piece of land with a book value of 5276,000 for $312,000 How are the effects of these transactions reported on the statement of cash flows? Use the minus sion to indicate cash outflows, cash payments, decreases in cases 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 Gain or loss on sale of land Deducted from net income 36,000 Cash received from sale of land Part of cash flows from investing activities 312,000 Cash paid for purchase of land Part of cash flows used for investing activities 530,000 X Amount Feedback Check My Wor Property, plant, and equipment are considered noncurrent assets. Recall the definitions of each section of the statement of cash flows. What type of an affect would again or loss have on the statement of cash flows