On January 1 Year 1. Finch Company had a balance of $266,500 in its Land account. During Year 1. Finch sold land that had cost $89,500 for $156,500 cash. The balance in the Land account on December 31 Year 1, was $296,500. 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 e Determine the cash outflow for the purchase of land during Year 1. Canh outflow for the purchase of land Requind 8 > Chi On January 1 Year 1. Finch Company had a balance of $266,500 in its Land account During Year 1. Finch sold land that had cost $89,500 for $156,500 cash. The balance in the Land account on December 31 Year 1, was $296,500 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 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 to cash flow from investing activities