In preparing its cash flow statement for the year ended December 31, 2016, Red Co. gathered the following data:

Gain on sale of land $ 12,400

Proceeds from sale of land 22,000

Purchase of Blue, Inc., bonds (face value $216,000) 358,000

Amortization of bond discount 4,600

Cash dividends declared 98,000

Cash dividends paid 73,000

Proceeds from sales of Red Co. common stock 156,000

In its December 31, 2016, statement of cash flows, what amount should Red report as net cash outflows from investing activities?