Exercise 14-8A (Algo) Determining cash flow from investing activities LO 14-3 On January 1, Year 1, Zachary Company had a balance of \\( \\$ 271,500 \\) in its Land account. During Year 1, Zachary sold land that had cost \\( \\$ 88,500 \\) for \\( \\$ 147,500 \\) cash. The balance in the Land account on December 31, Year 1 , was \\( \\$ 299,000 \\). Required a. Determine the cash outflow for the purchase of land during Year 1. b. Prepare the investing activities section of the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Determine the cash outflow for the purchase of land during Year 1. Exercise 14-8A (Algo) Determining cash flow from investing activities LO 14-3 On January 1, Year 1, Zachary Company had a balance of \\( \\$ 271,500 \\) in its Land account. During Year 1, Zachary sold land that had cost \\( \\$ 88,500 \\) for \\( \\$ 147,500 \\) cash. The balance in the Land account on December 31, Year 1 , was \\( \\$ 299,000 \\). Required a. Determine the cash outflow for the purchase of land during Year 1. b. Prepare the investing activities 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