Exercise 12-8A Determining cash flow from investing activities LO 12-3 On January 1, Year 1, Shelton Company had a balance of $273,500 in its Land account. During Year 1, Shelton sold land that had cost $75,500 for $156,500 cash. The balance in the Land account on December 31, Year 1, was $286,000. Required a. Determine the cash outflow for the purchase of land during Year 1. Cash outflow for the purchase of land b. Prepare the investing activities section of the Year 1 statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) Cash flow from investing activities: Net cash flow from investing activities