Reporting Land Transactions onStatement 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:

ACCOUNTland ACCOUNT NO.

Balance

Date Item Debit Credit Debit Credit

Jan.1 Balance 868,000

Mar.12 Purchased for cash 104,300 972,300

Oct.4 Sold for $95,550 63,840 908,460

Item Section of Statement of Cash Flows Added or Deducted Amount

Mar. 12:

Purchase of fixed asset Investing activities section Deducted

Oct. 4: Sale of fixed asset Investing activities section Added

Gain on sale of fixed asset Operating activities section Deducted

(assume the indirect method)