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 1,246,000 Balance Purchased for cash Sold for $225,000 Mar. 12 oa. 4 411,000 1,657,000 1,464,000 193,000 Item Section of Statement of Cash Flows Added or Deducted Amount Mar. 12: Purchase of fixed asset Oct. 4: Sale of foxed asset Gain on sale of fixed asset (assume the indirect method) Jan. 1 Mar. 12 Oct. 4 | Balance Purchased for cash Sold for $225,000 411,000 1,246,000 1,657,000 1,464,000 193,000 Section of Statement of the Added or Deducted 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) Financing activities section Investing activities section Operating activities section Not on statement