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 1,029,000 Mar 12 Purchased for cash 319,000 1,348,000 Oct. 4 Sold for $175,000 150,000 1,198,000 Item Mar 12: Purchase of fixed asset Section of Statement of Cash Flows Added or Deducted Amount x x $ Oct. 4: Sale of fixed asset Investing activities section Added V Gain on sale of fixed asset (assume the indirect method) Operating activities section Deducted