(Answered) Question - on july 15 2011 mw morgan distribution sold land

Accounting

Question - On July 15, 2011, M.W. Morgan Distribution sold land for $36 million that it had purchased in 2006 for $25 million.

(a) What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2011, using the direct method?

(b) Would the above amount differ if the company were using indirect method?

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