Cash proceeds of $72,000 include a $12,000 gain on the sale of land and the $60,000 cost (book value) of the land. Which of the following is false? a.The entire cash proceeds appear as a cash inflow in the operating activities section. b.The entire cash proceeds appear as a cash inflow in the investing activities section. c.The $12,000 gain is deducted from net income in the operating activities section. d.The book value does not appear as a cash inflow or outflow anywhere on the statement.