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In Sheridan Company, there was an increase in the land account during the year of $ 4 2 5 0 0 . Analysis reveals that

In Sheridan Company, there was an increase in the land account during the year of $42500. Analysis reveals that the change resulted from a cash sale of land at cost $115800, and a cash purchase of land for $157600. In the statement of cash flows, the change in the land account should be reported in the investment section:
as a net purchase of land, $42500.
only as a sale of land $115800.
as a purchase of land $157600 and a sale of land $115800.
only as a purchase of land $157600.
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