TB MC Qu. 12-127 When preparing a statement of. When preparing a statement of cash flows using the Indirect method, which of the following is correct? Multiple Cholce Proceeds from the sale of equipment should be added to net Income in the operating activitles section. A loss on the sale of land should be added to net Income In the operating activitles section. The declaratlon of a cash dividend should be a use of cash In the financing activitles section. The Issuance of a stock dividend should be a use of cash In the financing activitles section. The purchase of land and a bullding by Issulng a long-term note payable should be a source of cash In the financing activitles