land transactions on statement of cash flows IZE corporation purchase land for $500,000 later in the year the company sold a different piece of land with a book value of $250,000 for $280,000. How are the effects of these transactions reported on the statement of cash flows assuming the indirect method and use use the -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 select no affect from the drop-down menu and leave the amount box blank.

land Irancactions on the Suatemert of Cash Ilow Transactbens Gain on sale of lind Cach receved from kale of land Canb paid for purchase il land No effect Added to net income Deducted from net income Part of cash flows from financing activities Part of cash flows from investing activities