Question 1 4 pts When the indirect method of reporting cash flows from operating activities is used, payoff of a long-term liability with cash would be reported on the Statement of Cash Flows in the operating activities section. investing activities section. financing activities section noncash investing and financing section The amount would not be reported on the Statement of Cash Flows. Question 2 4 pts When the indirect method of reporting cash flows from operating activities is used, small stock dividends paid in shares to stockholders would be reported on the Statement of Cash Flows in the operating activities section. investing activities section. financing activities section noncash investing and financing section. the amount would not be reported on the Statement of Cash Flows. Question 3 4 pts Land that was originally intended for a second retail site was sold by James Company for $150,000 on August 8, 2019. The land originally cost James $130,000. If James uses the indirect method of reporting cash flows from operating activities, elements of this sale transaction will be included in which part(s) of the Statement of Cash Flows? operating activities section only. financing activities section only. both operating activities section and financing activities section. investing activities section only. both operating activities section and investing activities