Exercise 14-8A (Algo) Determining cash flow from investing activities LO 14-3 On January 1, Year 1. Finch Company had a balance of $276,500 in its Land account. During Year 1. Finch sold land that had cost $90,000 for $149,500 cash. The balance in the Land account on December 31, Year 1, was $293,000. 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. Required A Required Determine the cash outflow for the purchase of land during Year 1. Cashoutnow for the purchase of land Required B Exercise 14-8A (Algo) Determining cash flow from investing activities LO 14-3 On January 1, Year 1, Finch Company had a balance of $276,500 in its Land account. During Year 1. Finch sold land that had cost $90,000 for $149,500 cash. The balance in the Land account on December 31, Year 1, was $293,000. 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. Required Required Prepare the investing activities section of the Year 1 statement of cash flows. (Cash outflows should be indicated with minus sign.) Cash flow from investing activities Net cash flow from investing activities