Lamar Corporation purchased land for $$151,000.$ Later in the year, the company sold land with a book value of $$194,000$ for $$217,000.$ Show how the effects of these transactions are reported on the statement of cash flows using the indirect method.

Transaction

Gain on sale of land

Cash received for sale of land

Cash paid for purchase of land

Amount

$

$

$

Increase or Decrease

Statement of Cash Flows Section