Reporting Land Transactions on Statement of Cash Flows On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance Mar. 12 Purchased for cash 260,000 812,000 1,072,000 950,000 Oct. 4 Sold for $142,000 122,000 Item Added or Deducted Amount Mar. 12: Purchase of fixed asset Section of Statement of Cash Flows Investing activities section Investing activities section Operating activities section Deducted Oct. 4: Sale of fixed asset Added Gain on sale of fixed asset (assume the Indirect method) Deducted