Valdez Co. sold land that had cost $48,000 for $60,000 cash. Which of the following statements is true about this transaction? Multiple Choice The $12.000 gain would be subtracted from net income in the operating activities section using the direct method The $12,000 gain would be subtracted from net income in the operating activities section prepared using the Indirect method and $60,000 would be reported as a cash inflow from investing activities. O $60,000 would appear as a cash innow from investing actiunes. Saved Help Save The $12,000 gain would be subtracted from net income in the operating activities section using the direct method. The $12,000 gain would be subtracted from net income in the operating activities section prepared using the Indirect method and $60,000 would be reported as a cash inflow from investing activities. $60,000 would appear as a cash Intlow from investing activities, $48.000 would appear as a cash intow from investing activities and $12.000 would be added in the operating activities section using the Indirect method,