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 1,054,000 Mar. 12 Purchased for cash 316,000 1,370,000 Oct. 4 Sold for $174,000 149,000 1,221,000 Section of Statement of Added or Deducted Amount Item Cash Flows Mar. 12: Purchase of fixed asset Oct. 4: Sale of fixed asset Gain on sale of fixed asset (assume the indirect method)