On January 1, Year 1, Rooney Company had a balance of $269,000 in its Land account. During Year 1. Rooney sold land that had cost $80,000 for $142,500 cash. The balance in the Land account on December 31, Year 1, was $286,000 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 B Determine the cash outflow for the purchase of land during Year 1. Cash outflow for the purchase of land Required > Required A Required a 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 row from investing activities