On January 1, Year 1, Rundle Company had a balance of $269,500 in its Land account. During Year 1, Rundle sold land that had cost $93,500 for $154,500 cash. The balance in the Land account on December 31, Year 1, was $285,000. 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 Prepare the investing activities section of the Year 1 statement of cash flows. Note: Cash outflows should be indicated with minus sign. Cash flow from investing activities Paid for purchase of land $ 154,500 Proceeds from sale of land 93,500 Receipts from the sale of land 61,000 Net cash flow from investing activities $ 309,000 < Required A Required B >