Land Transactions on the Statement of Cash Flows Cameron Corporation purchased land for $538,000. Later in the year, the company sold a different piece of land with a book value of $237,000 for $206,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign 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 effect" from the drop down menu and leave the amount box blank. Transactions Action Amount Gain or loss on sale of land Added to net income 31,000 Cash received from sale of land Deducted from net income X 31,000 x Cash paid for purchase of land Part No effect 507,000 x Added to net income Feedback Deducted from net income Check My Work Property, plant, and equipment are Part of cash flows from financing activities hitions of each section of the statement of cash flows. What type of an affect would a gain or loss have on the statement of cash flows? Part of cash flows from investing activities