On January $1,$ Year $1,$ DIBA Company had a balance of $$442,000$ in its Bonds Payable account. During Year $1,$ DIBA issued bonds with a $$194,000$ face value. There was no premium or discount associated with the bond issue. The balance in the Bonds Payable account on December $31,$ Year $1,$ was $$214,000.$

Required

a$.$ Determine the cash outflow for the repayment of bond liabilities assuming that the bonds were retired at face value,

$\backslash$table$[[$Cash outflow for the repayment of bond,$$,14,000]]$

b$.$ Prepare the financing activities section of the Year $1$ statement of cash flows.

Note: Amounts to be deducted should be indicated with a minus sign.

$\backslash$table$[[$Cash flows from financing activities:$],[$Repayment of bonds payable,$$,14,000],[$Proceeds from issue of bonds payable,,$(22,400)$