Comparison of Cash Flows and Accrual Basis
Underhill Corporation's Statement

Comparison of cash flows and accrual basis
Underhill Corporation's statement of cash flows for 2009 shows the following information regarding investing activities:
Underhill Corporation's income statement for 2009 includes the following items:
(a) All payments and proceeds relating to these transactions were in cash. Using this information, compute the following:
$$\begin{array} { | l | l | } \hline \text { Purchases of marketable securities } & \$ ( 1,518,000 ) \\\hline \text { Proceeds from sale of marketable securities } & 811,000 \\\hline \text { Proceeds from sale of land } & \underline { 425,000 } \\\hline \text { Net cash used by investing activities } & \underline { \$ ( 282,000 ) } \\\hline\end{array}$$ $$\begin{array} { | l | l | } \hline \text { Loss on sale of marketable securities } & \$ 157,000 \\\hline \text { Gain on sales of land } & \$ 179,000 \\\hline\end{array}$$ (1) Cost of the land sold during 2009: $\$\_\_\_\_$
(2) Cost (book value) of marketable
securities sold during 2009: $\$\_\_\_\_$
(b) Underhill Corporation's balance sheet at the end of 2008 showed Land of $\$ 3,057,000$ and Investment in Marketable Securities of $\$ 2,218,000$ . On the basis of the data presented above, compute the amount to be reported for Land and for Investment in Marketable Securities on
Underhill Corporation's balance sheet at December 31, 2009.
(1) Balance in Land account at December 31, 2009: $\$\_\_\_\_$
(2) Balance in Investment in marketable
securities account at December $31,2009:$$\$\_\_\_\_$