Sorensen Company provides the following information related to its investing and financing activities for the current year:

Cash receipts:

Sale of common stock

$

250,000

Sale of equipment (at $34,000 loss)

156,000

Sale of land (at $50,000 gain)

160,000

Cash payments:

Purchase of equipment

$

178,000

Purchase of treasury stock

45,000

Retirement of debt

36,500

Dividends on preferred and common stock

75,000

b.

What impact does equipment sold at a loss, and land sold at a gain have on your calculation? (Select all that apply.)

Gain on sale of land is reflected in the cash payments figure. Loss on sale of equipment is reflected in the cash payments figure. Loss or gain will be reflected in neither cash receipts nor cash payments figure Gain on sale of land is reported separately from cash receipts figure. Loss on sale of equipment is reported separately from cash receipts. The amount of gain or loss is reflected in the cash receipts figure.