Exercise $14-8$A $($Algo$)$ Determining cash flow from investing activities LO $14-3$

On January $1,$ Year $1,$ Walton Company had a balance of $$269,500$ In Its Land account. During Year $1,$ Walton sold land that had cost

$$93,500$ for $$145,000$ cash. The balance in the Land account on December $31,$ Year $1,$ was $$284,500.$

Required

a$.$ Determine the cash outflow for the purchase of land during Year $1.$

b$.$ Prepare the Investing activitles section of the Year $1$ statement of cash flows.

Complete this question by entering your answers in the tabs below.

Prepare the investing activities section of the Year $1$ statement of cash flows.

Note: Cash outflows should be indicated with minus sign.