Statements of Cash Flows

Each of the following items must be considered in preparing a statement of cash flows for Sunland Inc. for the year ended December 31, 2025. State where each item is to be shown in the statement, if at all. (a) Your answer is partially correct. Plant assets that had cost $18,600, 6.5 years before and were being depreciated on a straight-line basis over 10 years with no estimated scrap value were sold for $3,600. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000M SUNLAND INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2025 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Used by Operating Activities Gain on Sale of Plant Assets Loss on Sale of Plant Assets