Exercise 14-8A (Algo) Determining cash flow from investing activities LO 14-3 On January 1, Year 1,...

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Exercise 14-8A (Algo) Determining cash flow from investing activities LO 14-3 On January 1, Year 1, Vernon Company had a balance of $258,000 in its Land account. During Year 1, Vernon sold land that had cost $90,000 for $143,000 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 activities section of the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Required A Required B Determine the cash outflow for the purchase of land during Year 1. Cash outflow for the purchase of land Exercise 14-8A (Algo) Determining cash flow from investing activities LO 14-3 On January 1, Year 1, Vernon Company had a balance of $258,000 in its Land account. During Year 1, Vernon sold land that had cost $90,000 for $143,000 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 activities section of the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Required A Required B Determine the cash outflow for the purchase of land during Year 1. Cash outflow for the purchase of land