Please answer in SHORT ANSWER format with FASB CODIFICATION AS REFERENCE

D Question 4 20 pts Buck's Dilemma: Gross or Net? Required: For each of the following scenarios, on the basis of the specific facts and circumstances, determine whether Buck should present its borrowing and payment activity under the Facility on a net or gross basis within the financing activities section of its statement of cash flows. Scenario 3: .The line of credit has a maximum borrowing capacity of $100 million. Individual draws on the Facility do not contain specific maturity dates, other than the entire amount outstanding under the Facility becomes due at the end of the three-year term. .On June 30, 2010, Buck drew $70 million on the Facility. .On September 30, 2010, Buck drew an additional $15 million on the Facility. . On November 30, 2010, Buck drew the remaining $15 million available under the Facility. . On December 15, 2010, Buck made a payment of $50 million related to the outstanding balance. . Assume the turnover of the transactions is considered to be quick. HTML Editor - O X N G O K D 1 1 12pt Paragraph