On January 1, Year 1, DIBA Company had a balance of $587,000 in its Bonds Payable account. During Year 1, DIBA issued bonds with a $180,000 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 $262,000. Required a. Determine the cash outflow for the repayment of bond liabilities assuming that the bonds were retired at face value. b. Prepare the financing activities section of the Year 1 statement of cash flows