n Shannon Company, there was an increase in the land account during the year of

$48,000. Analysis reveals that the change resulted from a cash sale of land at a cost

$110,000, and a cash purchase of land for $158,000. In the statement of cash flows, the

change in the land account should be reported in the investment section:

a.

as a net purchase of land, $48,000.

b.

only as a purchase of land $158,000.

c.

as a purchase of land $158,000 and a sale of land $110,000.

d.

only as a sale of land $110,000