land transactions on the statement of cash flow's. Alpha corporation purchase land for $325,000. Later in the year, the company sold a different piece of land with the book value of $150,000 for $164,000. How are the effects of these transactions reported on the same of cash flows assuming the indirect method is used? 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 same of cash flows, select "no effect" From the drop-down menu and leave the amount box blank.

Transactions Action Amount Gain or loss on sale of land Deducted from net income Cash received from sale of land Part of cash flows from investing activities all Cash paid for purchase of land Part of cash flows from investing activities