TransactionsActionAmount

Gain or loss on sale of land

Deducted from net income

$

21,000

Cash received from sale of land

Part of cash flows from investing activities

$

228,000.

Cash paid for purchase of land

Part of cash flows from investing activities

$

441,000

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Property, plant and equipment are considered noncurrent assets. Recall the definitions of each section of the statement of cash flows. What type of an affect would a gain or loss have on the statement of cash flows?