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

The question:

$ 250,000 156,000 160,000 Cash receipts: Sale of common stock Sale of equipment (at $34,000 loss) Sale of land (at $50,000 gain) Cash payments: Purchase of equipment Purchase of treasury stock Retirement of debt Dividends on preferred and common stock $178,000 45,000 36,500 75,000 b. What impact does equipment sold at a loss, and land sold at a gain have on your calculation? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) 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