Land Transactions on the Statement of Cash Flows Easterly Corporation purchased land for $269,000. Later in the year, the company sold a different piece of land with a book value of $124,000 for 135,000 How are the ericts of these transactions reported on the statement of cash flows? Use the minus sign to indieate cash outfiows, cash payment:, 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. Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $136,200. Depreciation recorded on store equipment for the year amounted to $22,500. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments