Land Transactions on the Statement of Cash Flows IZ Corporation purchased 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 is used? 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 on sale of land Deducted from net income $ Cash received from sale of land Part of cash flows from investing activities $ Cash paid for purchase of land Part of cash flows from investing activities Common stock transactions on the statement of cash flows Jones Industries received $600,000 from issuing shares of its common stock and $400,000 from issuing bonds. During the year, Jones Industries also paid dividends of $60,000. How are the effects of these transactions reported on the statement of cash flows? Use the min 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 Cash received from issuing common stock Part of cash flows from financing activities $ Cash received from issuing bonds Part of cash flows from financing activities Cash paid for dividends Part of cash flows from financing activities Staley Inc. reported the following data: Net income $408,300 Depreciation expense 57,200 Loss on disposal of equipment 24,000 Increase in accounts receivable 13,000 Increase in accounts payable 12,500 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable 11 Increase in accounts payable Net cash flow from operating activities