Check my work On January 1 Year 1, Shelton Company had a balance of $264.000 in its Land account. During Yeart Shelton sold land that had cost 590,500 for $145.000 cash. The balance in the Land account on December 31 Yeart was $291500 Required a. Determine the cash outlow for the purchase of tand during Year 1 Cashout or the purchase and b. Prepare the investing activities section of the Yeart statement of cash flows. (Amounts to be deducted should be indicated with a minus sign) Cash to investing activities Netshow from westing activities S 5. Prepare the investing activities section minus sign.) Cash flow from investing activities: > $ Paid for purchase of land Paid for utilities Proceeds from sale of land Receipts from customers arch o i F2 F4