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Sunland Corporation had the following transactions. 1. Sold land (cost $12,500) for $15,500. 2. Issued common stock at par for $20.000. 3. Recorded depreciation on

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Sunland Corporation had the following transactions. 1. Sold land (cost $12,500) for $15,500. 2. Issued common stock at par for $20.000. 3. Recorded depreciation on buildings for $17,500. 4. Paid salaries of $9,500. 5. Issued 600 shares of $1 par value common stock for equipment worth $4,800. 6. Sold equipment (cost $11,600, accumulated depreciation $8.120) for $1.392. For each transaction above, (b) indicate how it would affect the statement of cash flows using the indirect method. (Do not leave any answer field blank. Enter for amounts. Select "Not Reported" if it is not reported on the statement of cash flows. Select "Not Applicable*# it does not belong to any section) 1 Cash receipt 15.500 Reported Investing section Gain on disposal of plant assets 3000 Reported Operating section 2 Cash receipt 20000 Reported Financing section 3. Depreciation expense 17.500 Reported Operating section 4 Salaries and wages expense 9.500 Not reported Not Applicable 5. Common stock for equipment 4.500 Reported Investing and Financing section 8 Cash receipt 1.392 Reported Investing section Loss on disposal of plant assets 3480 Reported Operating

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