Land Transactions on the Statement of Cash Flows

Alpha Corporation purchased land for $241,000. Later in the year, the company sold a different piece of land with a book value of $157,000 for $171,000.

How are the effects of these transactions reported on the statement of cash flows assuming the indirect method is used? Use the minus sign to indicate cash out flows, 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 effect" from the drop down menu and leave the amount box blank.

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Changes in Current Operating Assets and LiabilitiesIndirect Method

Victor Corporation's comparative balance sheet for current assets and liabilities was as follows:

	Dec. 31, 2014		Dec. 31, 2013
Accounts receivable	$15,900		$13,800
Inventory	61,900		72,000
Accounts payable	17,200		14,700
Dividends payable	25,000		28,000

Adjust net income of $125,800 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.