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 2016 Jan. 1 Balance 1,160,000 Apr. 6 Purchased for cash 371,000 1,531,000 Nov. 23 Sold for $203,000 174,000 1,357,000 Item Section of Statement of Cash Flows Added or Deducted Amount Apr. 6: Purchase of fixed asset $ Nov. 23: Sale of fixed asset $ Gain on sale of fixed asset (assume the indirect method)